Robert Reich: Universal Basic Income Is Coming and That’s a Good Thing

Robert Reich: Universal Basic Income Is Coming And That's A Good Thing (RealClearPolitics)

Former Secretary of Labor Robert Reich makes his case for a Universal Basic Income. Reich shows how technology will replace jobs, citing that nearly half of jobs are at risk to automation by 2040. Reich said that isn't "necessarily bad" as it will give people who have had their job replaced to give them more "free time" to "do what they want."

Reich acknowledges that there will have to be a way to "recirculate" money from the "few" for Universal Basic Income to work. Reich said the idea has had historical support from people on the left, Martin Luther King Jr., and on the right such as Richard Nixon and Milton Friedman.

"Some think it could be superior to welfare or other kinds of public assistance," Reich argued. "A Universal Basic Income doesn't tell people what to spend the assistance on, and everyone qualifies."