@sauravrungta a good post but only putting insights into economics of work is belittling a larger concept. Work does take care of financial need but indulgence into work comes from myriad of factors. Work is a parameter of growth and scalability. A validation of ones effort. People's earnings are a validation of their effort and intellect. Automation and UBI both hampers that. When we know that we can scale then we work hardier. Your point that one will pursue a career of choice, well a career is all about scalability and one's ability to grow. People will not scale if their is no validation. See any field most successful people are those who scaled. So be it automation or UBI they will not change the importance of work.
UBI comes with its on limitations as in a country like india it would just increase social disparity. Your take on this?
Yes, UBI will only solve the economic aspect of things. It will be act as a support so that people don't die of lack of basic needs. I am not sure what will solve the validation part of the equation.
How would it increase social disparity?
Well friend as you know social disparity in India is well established already. The concept of UBI is that everyone be it rich or poor or middle class are entitled to it. In such a scenario it only increases disparity because if one is already rich and gets a basic income means he would spend it on some luxury while the poor will stick to basic need. The class gap will just widen. Other factors like past savings, ancestral wealth will help middle and rich class even if there is lack of jobs. If UBI is established as a limited concept then it is no more universal and a limited concept will always have exclusion errors like the present PDS etc.
Yes, it might be true that UBI started out as something that is given to everyone equally. But it was just an idea. During more recent times, experts and nations have started to look at it more practically and now the general idea about it is that, UBI will have to be implemented with certain parameters, like giving it to only people in need and up to a certain income level only. Plus recipients would have to contribute to community tasks in order to not be just a burden to the society. (I have mentioned these things in the post)
Exactly my point they have shifted from concept of UBI to BI. And a concept of BI will have exclusion errors like several other existing social welfare schemes. How is it different from current schemes.
You inspired me to write an article on marxism in the realm of AI. Please go through it, i wrote it today. Give your views.