Sharing the Future with Artificial Intelligence

One option for reducing financial anxiety related to the decreased demand for human labor is to provide subsidies to every adult. A recent US survey found that 46% of people support the idea of a universal basic income, formulated as a "negative income tax" (Milton Friedman), guaranteed income (Martin Luther King Jr.) or annual cash grant (Charles Murray). The idea did not pass the vote in Switzerland, but is under consideration in India, Finland and Oakland, California. Earlier case studies - such as the Alaska Permanent Fund, established 40 years ago, has revealed unintended consequences: the program encouraged retirees to move to Alaska, squeezed wages, fostered addiction to "free money", and created a "consumption-frenzy" at local shops when the checks were distributed. Last month Alaska House voted to lower the dividend, and this could hit middle-income residents relying on it.