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April 21, 2016 08:00 pm
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/cKt8YpwcwVM/vc-entrepreneur-says-basic-income-would-work-even-if-90-people-smoked-pot-and-didnt-work
VC, Entrepreneur Says Basic Income Would Work Even If 90% People 'Smoked Pot' and Didn't Work
An anonymous reader cites a story on TI: The chief complaint people lodge at universal basic income -- a form of income distribution that gives people money to cover basic needs regardless of whether they work or not -- is that it'll make them lazy. Sam Altman doesn't buy it. In a recent episode of the Freakonomics podcast, entitled "Is the World Ready for a Guaranteed Basic Income?" Altman argued basic income could support huge amounts of productivity loss and still carry the economy on its shoulders. "Maybe 90% of people will go smoke pot and play video games, but if 10% of the people go create incredible new products and services and new wealth, that's still a huge net-win," Altman says. "And the American puritanical ideal that hard work for its own sake is valuable -- period -- and that you can't question that, I think that's just wrong." [...] The complaint Altman addressed on the Freakonomics podcast is a common one. Study after study, however, has shown that giving people extra money makes them feel financially secure. That security ends up leading to empowerment, not de-motivation.Read more of this story at Slashdot.
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/cKt8YpwcwVM/vc-entrepreneur-says-basic-income-would-work-even-if-90-people-smoked-pot-and-didnt-work
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