The Korea Times
Elon Musk recently posted a pronouncement on X: "Universal HIGH INCOME via checks issued by the Federal government is the best way to deal with unemployment caused by AI." Andrew Yang cheered. Sam Altman concurred. Their message: AI is coming for your job, and only the government can save you. This is not a new script. It is the latest performance of a very old play, recycled with each tech wave since the Luddites smashed textile looms in 1811. What's new is the speed and sophistication of today's AI. With a skilled user, large language models can draft legal briefs, debug code, and diagnose medical images. Boston Consulting Group estimates that 10 to 15 percent of U.S. jobs could vanish within five years—and some consider that too conservative. The anxiety is understandable, as is the appeal of UBI as a solution. Yet the arguments for a universal basic income rest on economic fallacies, fiscal fantasy, and a basic misunderstanding of human nature. At the heart of every call for UBI lurks the lump-of-labor fallacy—the mistaken belief an economy contains only a fixed amount of work t
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