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The effects of automation on our economy and society are more palpable than ever, with nearly half of jobs at risk of being fully executed by machines over the next decade or two. Policymakers and scholars alike have championed the…
Universal Basic Income (UBI) has recently been gaining traction. Arguments exist on both sides in favor of and against it. Like any other financial tool, UBI can be useful if used with discretion. This paper seeks to clarify how UBI affects…
Universal basic income (UBI) is a tax scheme that uniformly redistributes aggregate income amongst the entire population of an economy. We prove the existence of an equilibrium in a model that implements universal basic income. The economic…
The emergence of Artificial General Intelligence (AGI) labor, including AI agents and autonomous systems operating at near-zero marginal cost, reduces the marginal productivity of human labor, ultimately pushing wages toward zero. As AGI…
We derive the first closed-form condition under which artificial intelligence (AI) capital profits could sustainably finance a universal basic income (UBI) without relying on new taxation or the creation of new jobs. In a Solow-Zeira…
The rapid expansion of generative artificial intelligence (AI) is transforming work, creativity, and economic security in ways that extend beyond automation and productivity. This paper examines four interconnected dimensions of…
The rise of Artificial General Intelligence (AGI) marks an existential rupture in economic and political order, dissolving the historic boundaries between labor and capital. Unlike past technological advancements, AGI is both a worker and…
The thesis of a capitalist road to communism (van der Veen and Van Parijs, 1986) asserts that Marx realm of freedom can be reached from within welfare capitalism, skipping socialism, by using a tax-financed unconditional basic income until…
The outbreak of the Covid-19 pandemic has led to an increasing interest in Universal Basic Income (UBI) proposals as it exposed the inadequacy of traditional welfare systems to provide basic financial security to a large share of the…
The use of artificial intelligence (AI) in the public sector is best understood as a continuation and intensification of long standing rationalization and bureaucratization processes. Drawing on Weber, we take the core of these processes to…
Time-decaying currencies have long been discussed in economic theory as a means to discourage hoarding and promote circulation. However, their modern digital implementation as a universal basic income (UBI) mechanism raises unresolved…
It is widely assumed that increases in economic productivity necessarily lead to economic growth. In this paper, it is shown that this is not always the case. An idealized model of an economy is presented in which a new technology allows…
Future advances in AI that automate away human labor may have stark implications for labor markets and inequality. This paper proposes a framework to analyze the effects of specific types of AI systems on the labor market, based on how much…
The welfare of modern societies has been intrinsically linked to wage labour. With some exceptions, the modern human has to sell her labour-power to be able reproduce biologically and socially. Thus, a lingering fear of technological…
Artificial Intelligence (AI), is once again in the phase of drastic advancements. Unarguably, the technology itself can revolutionize the way we live our everyday life. But the exponential growth of technology poses a daunting task for…
The Universal Basic Computing Power (UBCP) initiative ensures global, free access to a set amount of computing power specifically for AI research and development (R&D). This initiative comprises three key elements. First, UBCP must be cost…
The development of AGI threatens to erode government tax bases, lower living standards, and disempower citizens -- risks that make the 40-year stagnation of wages during the first industrial revolution look mild in comparison. While AI…
Recent progress in artificial intelligence (AI) marks a pivotal moment in human history. It presents the opportunity for machines to learn, adapt, and perform tasks that have the potential to assist people, from everyday activities to their…
We propose social welfare optimization as a general paradigm for formalizing fairness in AI systems. We argue that optimization models allow formulation of a wide range of fairness criteria as social welfare functions, while enabling AI to…
As the transformative potential of AI has become increasingly salient as a matter of public and political interest, there has been growing discussion about the need to ensure that AI broadly benefits humanity. This in turn has spurred…