Special Reports

Facebook’s Chris Hughes Pledges $10M For Universal Basic Income


Facebook co-founder Chris Hughes and other interested entrepreneurs and tech authorities have recently pledged $10 million in order to fund the research on universal basic income.

Everything is moving forward and technology most of all is getting highly advanced. The main factor when it comes to technology and its use in the world is automation. Which is why the United States' economy will continue to get more automated, as reported by CNWorth.

The idea behind universal basic income stems from the thought that it is a more effective remedy for poverty and lack of education or health care. Chris Hughes is just one of a hundred people that believes in the effectiveness of universal basic income. Universal basic income will provide everyone a guaranteed income, with no strings attached. According to Hughes, financial security is a human right.

The $10 million fund will go to organizations that will research on the different angles of the idea. Chris Hughes cites that there is an economic crisis in America. The publication adds that it is going to be a hard sell in America because the country is obsessed with traditional work compared to automation.

Will people lose their jobs to robots? After all, that is what automation is most likely about. A monthly payment that is funded by tax revenues and used as a security net against unemployment (coming from automation) could one day become a reality, as reported by CNET.

Automation can affect not only the lower class but also the middle class. Artificial intelligence studies are focusing on automation work. This minimizes the chance of human labor. But not everyone is in support of the universal basic income idea. Forty six percent support it while 35 percent are against it. The other part is still undecided.

Technology still continues to evolve and it is unclear what kind of road automation will pave. For now, Chris Hughes wants the idea to be further studied.

Know more about the future of jobs through the video by Stanford Center on Poverty and Inequality below:

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