Nowadays, it is often argued that governments should implement a policy called universal basic income to provide a minimum standard of living for all residents due to the development of automation and artificial intelligence. I contend that implementing this policy is financially unsustainable and could become more disastrous. But, also this would beneficially affect to the populace. This essay will discuss both views and explain why I believe it is not a suitable solution.
On the one hand , now AI and innovations are enhancing which also negatively affects employment. But , it is not the best solution to tackle this pressing concern, since it will damage the economy and diminish people’s willingness to work and develop. This is because when people receive money without any effort, they rely on the UBI and they can become more relaxed and disincentivize work. For example, a employee who used to worked competently and doing his best, begins to receive the money which makes him less focused and disciplined. Moreover it also will make him think he should not work because he already has the money.As a result, individuals like him are less likely to work, therefore paying people for nothing results in an economy and gaps in country’s budget.
On the other hand, governments ought to offer the universal basic income in order to financially support individuals at the time of unemployment and increase of innovations. This is because, when people are overthrown from their work or replaced, they need a time to find a job. Therefore while searching a new job, they are also make ends meet. For example, a person just fired due to the fact that all his services are replaced by AI, subsequently he forced to work in an inconvenient and temporary jobs . As a result, a large number of people will suffer and also raising level of poverty. In addition this circumstances would result in many aspects of life. So if the state implement this policy it will save millions of lives and can manage economy easier.