UBI could protect workers
New technologies, according to business giants like Elon Musk and Andrew Yang, will force millions of people out of work, reports Money Crashers.
They believe Universal Basic Income (UBI) is the best way to help these employees, at least until they can find work in the new economy.
Offshoring, in which companies move their operations overseas to take advantage of a shrinking workforce, can also lead to job losses.
With UBI as a safety net, these individuals can try something new, such as changing professions, going back to school, or even starting their own business.
And if one of these companies succeeds, the economy as a whole will benefit.