Why guaranteed income may come to the poor world first
One of the most commonly touted remedies for an expected future bloodbath in the job market is the universal basic income, a concept whereby the government would issue monthly payments to all citizens, regardless of employment status. Its advocates argue that UBI would be the best way for citizens to support themselves should most productive work end up being done by machines and artificial intelligence.
But a recent analysis by the Brookings Institution argues that UBI already makes sense as a tool for fighting poverty around the world.
Why it matters: If developing countries like Brazil, India and Indonesia were to implement such a program at a cost of 1% of GDP, it could help bring around 185 million people out of extreme poverty, Brookings says.