Related papers: Universal Basic Income: The Last Bullet in the Dar…
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) 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…
In the face of shifting means of production from manual human labor to labor automation, one solution that stands out is the advancement of a Universal Basic Income, UBI to every citizen from the government with no strings attached. The…
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…
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 prominent inequality of wealth and income is a huge concern especially in the United States. The likelihood of diminishing poverty is one valid reason to reduce the world's surging level of economic inequality. The principle of…
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…
Income inequality is known to have negative impacts on an economic system, thus has been debated for a hundred years past or more. Numerous ideas have been proposed to quantify income inequality, and the Gini coefficient is a prevalent…
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…
Classical monetary systems regularly subject the most vulnerable majority of the world's population to debilitating financial shocks, and have manifestly allowed uncontrolled global inequality over the long term. Given these basic failures,…
In the recent times of global Covid pandemic, the Federal Reserve has raised the concerns of upsurges in prices. Given the complexity of interaction between inflation and inequality, we examine whether the impact of inflation on inequality…
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…
Societal change is often driven by shifts in public opinion. As citizens evolve in their norms, beliefs, and values, public policies change too. While traditional opinion polling and surveys can outline the broad strokes of whether public…
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…
This paper analyzes whether a minimum wage should be used for redistribution on top of taxes and transfers. I characterize optimal redistribution for a government with three policy instruments -- labor income taxes and transfers, corporate…
Circles UBI is a blockchain-based Community Currency System (CCS) that has been active in Berlin (Germany) since October 2021. The Circles Coop, which launched the project in 2021, was shut down in December 2023. In this paper, we show the…
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…
Managing unemployment is one of the key issues in social policies. Unemployment insurance schemes are designed to cushion the financial and morale blow of loss of job but also to encourage the unemployed to seek new jobs more pro-actively…
We propose a highly schematic economic model in which, in some cases, wage inequalities lead to higher overall social welfare. This is due to the fact that high earners can consume low productivity, non essential products, which allows…
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…