Why UBI is Our Future - The War on Normal People by Andrew Yang
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- Опубликовано: 16 сен 2024
- Animated summary of Andrew Yang’s book “The War On Normal People”. The rise of automation, robots and AI is changing our economy at an accelerating rate, displacing more and more jobs. A universal basic income is argued for as being part of the future solution as we undergo the transition of this Fourth Industrial Revolution.
If you’d like to read the book you can find it at amzn.to/2PCMAuu
Bonus Facts and Info
♦ Productivity and average income has grown further and further apart since the 60s. CEOs and shareholders are earning more, while laborers are not.
♦ 30% of American malls are predicted to close in the next few years.
♦ The unemployment rate is a bad measurement that doesn’t include people who are “out of the work force” due to any reason such as giving up on finding a job. It also doesn’t include underemployment, which is when people accept jobs that they are overqualified for. There are more than 90 million working-age Americans who are out of the work force.
♦ Business formation rate is at a multi-decade low, partly due to a lack of a sense of abundance.
♦ Scarcity is essentially mental bandwidth being used to worry about financial choices, and leads to things such as impaired decision-making, negativity, lack of risk-taking, tribalism, divisiveness, and even a 13 point reduction in IQ according to a Princeton university study.
Most common objections to UBI, and responses from the book:
►“We can’t afford it” - It’s actually very cheap to put into action, a lot of the money will come back in the form of tax and improved economy. None of the money would actually be wasted due to it going to citizens who will use it. Money will be saved as it would replace some of the ~130 welfare programs and their bureaucracy, and through less hospitalizations and reduced incarceration rate.
► “People will become lazy” - It's mostly mothers and teenagers who work less when given a UBI, and they spend the extra time on meaningful things such as family and school.
► “People will waste it on drugs and alcohol” - The data doesn’t support this.
◈ Quote from the last chapter of the book: "We must convert from a mindset of scarcity to a mindset of abundance. The revolution will happen either before or after the breakdown of society. We must choose before.”
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I put about 250 hours over the course of several months into making this video, so I really hope you enjoyed it!
Subscribe to the channel if you appreciate this type of content: ruclips.net/user/mi...
Came from your comment on JRE, gotta say this is really high quality and I can see you getting far with this. Keep doing you man
Thanks, I appreciate it
Same here I was surprised to find a good channel from the comments section
Me too
Same
Directed here from your comment on the Joe Rogan clip with Brett Weinstein
Hahah same
To my subscribers who may already have seen this video - yes this is a re-upload of what I uploaded on Monday. I had to make some minor adjustments.
I used to have the wrong idea about UBI, not anymore thanks to you ! ♥
We kind of tried it in 2020 and we're paying for it with inflation now. What went wrong?
Blessings from Taiwan 🇹🇼🧧🤗
SUPER HAPPY I can place an ENCOURAGEMENT here 🥳
Keep up your great work !👍👍👍
God bless you, your work, and your family 😇🧧🥰
With UBI, Annie will definitely be ok
awesome explainer! easy to share with people who don't yet know enough about UBI! THANK YOU!
Gotta get that book!
Great video. I wish more people could see this. The ideas in the book are truly life changing and would turn our country around for the better. It’s great because both parties can get behind it and mend our country back together. Beautiful.
It's free on RUclips.
nice subtle touch at 3:55 with the lotion and tissues.
Just sitting around watching Nutflex haha!
Excellent video!
Everyone note that while this is a wonderful summary, still read the book! This video covers the “what’s” and the book covers the “whys” which will push your knowledge and understanding of the subjects even further👍🧢
This is amazing. Please make more. Let us know if you need money for a better mic.
Thank you Eric! Do you think the voice over quality is a bit off? I'm using a $100 microphone, unfortunately I chose a dynamic rather than condenser microphone, might have been the wrong choice. I'll definitely be making more videos! 👍 They probably won't be on this type of topic though, but more along the lines of health and self-empowerment. If you'd like to donate there's a link in the video description 🙏
@@MindDrip I see channels like yours with way more views, and it made me think about why yours isn't up there. It may be that the titles of your videos aren't eye-catching enough. For example, your "How to produce more brain cells" video had way more views than "Everything You Should Know About Heart Rate Variability." The first title seems to have more buzzwords than the 2nd. Also, your thumbnails are a bit plain. I know these are different audiences, but hear me out: Pewdiepie has weird and eye-catching thumbnails, along with cleverly worded titles to back them up, which generates consistently millions of views. ruclips.net/video/Nz3Ngt0AMDA/видео.html this is one of Pewdiepie's videos on how to create thumbnails that will attract more people to view your videos. I was watching a channel called Veritasium and he has a slightly similar video on how videos go viral:
ruclips.net/video/fHsa9DqmId8/видео.html
Hope this helps. I really want to see your channel thrive.
Ancient Rome had UBI called the “manumission “. Basically Manus= hand so “ handout”. Every male Roman citizen went to his patron every morning for his daily handout. The patron then went to his patron all the way up to the emperor. The result the poet Virgil said that no one cared about who ruled them, they were only concerned with “bread and circuses”. Roman citizens had the leisure time to spend hours in the baths then attend entertainment at the Colosseum or at the chariot races or eating and drinking. It was great as long as long as the empire footed the bill from conquered foreign lands . But eventually it couldn’t afford to keep an army to defend the borders and the Barbarians invaded. Then it was game over. America is following this path and I doubt if it will take centuries for it to collapse. Maybe only a few decades. I don’t think there is any way to stop this trend. It’s inevitable but I won’t be around to see it. The drift set in long ago and now it has gained so much momentum it can’t be stopped. Enjoy.
Well made
Universal Basic Income- dignity Life For every one...
#Artificial_Intelligence is definitely the future of the world
AI will drive the economy of tomorrow...
Basic Income is a human right....
Technology is cheaper than workers.
it's Time for a #BasicIncome & #FourDayWorkWeek
Great vid thanks
#YANG2024✊
I rate this video 11/10.
Thanks. Glad you liked it, it took a lot of work
@@MindDrip This is essentially a work of art. How can we help? Amazing job.
Fearmongering 101. Pavlov would be proud.
UBI or Universal Basic Income suffers from three potential faults that seem pretty unavoidable to me.
Fault 1. Inflation in price of things that UBI recipients buy. The logic is simple: customers are able to pay more therefore sellers charge more. Prices tend to rise to what the market can bear and they settle above the amount that the poorest people can pay. By virtue of being "universal" -ie. not targeted at only the very poorest of us- UBI will cause price increases that affect the poorest in a worse way than a non-universal system (like welfare and wage subsidies) would.
Fault 2. The best domestic real estate is increasingly owned by foreigners, increasing the cost of living for everyone in the areas they own property in. The inflation caused by UBI needs to be offset by increasing UBI payments, which in turn increases that inflation. This becomes a never-ending cycle repeating through time. Perhaps a country's domestic economy can tolerate this, but the inflation will also make the country's currency worth less compared to other countries, making prime real-estate more accessible to people from other countries. Closing the door to non-citizen ownership of real-estate is the only solution to this. Merely raising the price on foreign buyers (eg. property taxes) only succeeds in ensuring that those foreign owners are even richer, and the effect of their spending in the local economies their properties are in will be even more inflationary. (we see this effect in cottage country too, where richer city folks start making grocery prices rise even for locals)
Fault 3. The regulatory framework will grow, and this can be unpopular with the majority. Controlling UBI-induced inflation will mean controlling some of the large key expenses that people face, for example energy, rents, real estate, and healthcare. Unless the country implementing UBI is energy self-sufficient, energy will resist regulation as foreign producers cannot be regulated. With a weak currency (due to UBI-induced inflation) a country has little clout to make better deals with. Energy may need to be universally subsidised just to keep the economy working.
I would tend to advocate for a guaranteed minimum income (GMI), not a universal basic income (UBI), as a consequence of the potential problems I see with UBI.
Well said. However, the point is that people will lose their with technology developing. Say auto truck to replace truck drivers in 20 yrs
With the development of technology, say agriculture, only 5% work in farmland but can feed the whole American and export remains to the world. 95% of the no farm people will covered by the 5% people there, similarly only 5% people working will support all people’s living in near future.
@@shawnz9833 Both good observations but they only indicate a need for some kind of change and don't actually lead to UBI as a solution, in my opinion. A GMI plus minimalist government intervention in key areas would be my preference. The 40 hour week has been with us for a century and needs to be halved. Policies aimed at making two-income households normative also need to be scrapped, and walked back. This is big change and not as simple as printing money, which in the long term is what UBI would amount to of necessity.
Which software you use for making your videos?
Nice video :)
Thanks. I use after effects
A Utopian Society would work better, whenever there is money there will always be someone who trying to take it...basic necessities need to be met, free Healthcare, Free Education and Housing should be lower and its should have a Cap on rates. I like what Mr. Yang is saying tho....we just need to step it up to another level!!!!
Maybe we can just look at this as the first step of many.
@@wordenit9351 I hope so...we can create movies of a Utopian society ex: Star Trek or Star Wars and the diversity is endless right but we cant get it together in real life...hell.
I have the book... I tried to get my friends and family to read it as well but you can lead a horse to river but can't make it drink.
Please tell me about sapiens
A brief history of humankind??
In data we trust XD
Awesome!
but what will happend to humans if they feel useless, it will not turn us imto hyper-consumism (with more resources to burn) and more suicide. ¿What will happent to critical thinking and esucation? ¿It is not going to benefit more amazon while speanding the money in them since is more comfortable?
If the government can use the people's tax to bail out those too big to fail companies, why not the people themselves, who didn't do anything wrong?
One could argue that being lazy is immortal and therefore "wrong"
You know, the danger of UBI (and the actual reason the idea has been thought up) is to later on reason that other social securities are with its implementation no longer necessary, and to also argue that minimum wage isn't needed as well. Just something to consider. I'd argue with AI (and I'm a computer science major working in machine learning) our economic system should change as a whole, instead of merely tweaking and adjusting it, as in the case of presenting the idea of universal basic income. Perhaps something more nationally planned and socialized to avoid the centralization of power in the hands of private enterprises to begin with, instead of giving everyone breadcrumbs, in the end not solving the core of the issue.
Though temporary it is a functional fix, whereas dreaming about structural reorganization of the entire system is simply dreaming until you have concrete details to discuss. Otherwise it detracts from taking useful action towards alleviating income inequality.
Then as a fellow CS you should know that even our jobs will be automated in some minor regards very soon. Within our life times even we will be without jobs. UBI is the only proposal that addresses the sweeping nature of the coming shift.
@@jamesbonn2394 I agree with you that even our jobs can be automated away in the future. I disagree with you that UBI is the only proposal that addresses the sweeping nature of the coming shift. Other proposals exist, they just don't come in small and digestible slogans. Look up Paul Cockshott and his book Towards a New Socialism. He also has a RUclips channel.
@@lysergicheadcase I agree that you can consider it a temporary, functional fix but there are arguments to be made against "reformism". I used to be a reformist myself, until you realize the system itself is the problem. I think you are being unfair when you chose to use the word "dreaming" to make other proposals automatically sound unrealistic. There are numerous academics who discuss their plans for new systems. They aren't any more theoretical or "untangible" than UBI. Like the other guy, I would recommend you look up Paul Cockshott and his book Towards a New Socialism. He also has a RUclips channel.
@@Silvannetwork I don't think its unfair. In many instances of actual history when people replace their governing system wholesale (rather than small incremental changes) the changes are repealed quickly. In some extreme situations these changes cause violence. Reform is the only method of change that does not come with a side of genocide.
I can see UBI working on a first world country, easy.
But Mind Drip, how would this affect developing countries? In particular, those who have an unbalanced government that already over taxes both companies and individuals yet provide terrible service and allows their population to live in extreme poverty?
Do you see UBI as a global measure, or as a tool for a specific problem in a specific place?
Honestly I gotta say this is definitely not my area of expertise. Yang's book is the only book related to economics/politics that I've ever read outside of school. That said, I think for first world countries it seems like a great idea to have a UBI, for developing countries I don't know. It could probably make a big difference for people, but without a certain level of general safety and governmental integrity I can imagine it causing some issues. Great question though, maybe someone else could chip in
Just to get this out there... im not an expert of any kind that matters. However, any country with a weak economy and a rapidly fluctuating currency... UBI would basically be pointless\detrimental. One would assume that they could then just use another countries currency.... but from what little i know, basic economic theory tells us that having another currency active in your country at such a level that it undermines your own is catastrophic.
This is going to be a long wall of text.
UBI is a good idea and a necessary part of any plan for producing a sane society that values life, and it is even more necessary as a part of any plan for addressing automation. However, a UBI is not enough. Here is a more reasonable plan to address automation (and problems with our society in general).
1. As automation or other factors cause a scarcity in useful work, we should reduce the official workweek while increasing wages (so that no one loses pay from working fewer hours). This way what useful work continues to exist can be shared. We should start immediately by reducing the workweek to 30 hours and increasing the minimum wage to $20-$24 (and indexing the minimum wage to both inflation and productivity, whichever growth rate was higher in any given year).
2. Workers should have a say in how automation is implemented, as many of them will probably try to cut working hours or improving work conditions using automation, as opposed to firing themselves. This can be done by (A) giving the workers the right of first refusal to buy out their workplaces and convert them into cooperatives whenever the workplace owners are planning to sell the workplace, shut it down, move it, or automate a notable and significant portion of the workers; (B) workers need to be able to elect a percentage of the boards for public and/or large businesses and they should have employee stock ownership plans so they may have shareholder voting powers and dividends; (C) worker unions needs to be strengthened in various ways, with one of the most notable being sectoral bargaining.
3. A UBI needs to be adequate, and unfortunately a $1000 monthly UBI is not adequate, and a $2000 UBI which is adequate is also too unaffordable and politically unfeasible. However, we may be able to make $1000 a month more adequate if we combine it with Universal Basic Services (UBS), meaning universal health insurance, free college and other forms of higher education, fare-free public transportation, housing guarantees, investments in public services like public libraries, the postal service, public banking, municipal internet service providers (with net neutrality and other internet based policies), etc... Depending on the model you use, UBS will only cost between $84 to about $350 per person per month, which is a lot cheaper than the extra $1000 needed to raise the UBI to $2000. We should, however, protect social security alongside a UBI as those with disabilities and old age may have additional health challenges and barriers to participating in society and need the additional income to overcome those challenges and barriers. When we decommodify partially or completely all the necessities of life, we prevent landlords and others from just raising their prices to collect all their tenants/consumers new income.
4. We should also have a Federal Job Guarantee (FJG), as even if useful work is being shared by reducing the work week, that does not mean that everyone who wants to work may get a job from private employers and may not be savvy enough to be self-employed (even with a UBI), and just like how people should be free not to work, people should also be free to choose to work. A Job Guarantee will ensure the right to work is protected, by granting employment to every single applicant without exception, with a job doing useful work that is customized to the applicant's skills, training requirements, accommodation needs, and preferences (such as work hours). Professional job designers can design a job for each applicant, using lists of useful work that is not usually done due to a lack of profitability or financial justification compiled from suggestions from local governments, state governments, local communities, civilians, non-government organizations, non-profits, etc... If someone does not perform the work they agreed to in a competent manner they can have that employment terminated, but they will be able to re-apply to the job guarantee as many times as they want. This is also useful for stablizing the labor market and reinforcing labor rights.
5. It is one thing to be able to have the minimum necessities of life during an age of automation, however those that own the automation will accrue enormous wealth, while everyone else may be left with little and may be vulnerable to the whims of those who own the automation, with no power to help direct the decisions made with automation to provide good and services and benefits to society. We must make ownership of automation (and the means of production and society's resources as widespread as possible). We must ban patents on automation technologies (and really we should just ban patents and switch to a prize system) so that anyone can start-up an operation using automation technologies. We must also have a sovereign wealth fund, so the people through the government have some ownership over automation technologies. We must require that completely or nearly completely automated "workplaces" will gradually have their equity moved from private ownership towards local, states, and communal ownership. We must have a robust system of usufructs that are publicly or communally owned. We must have public banking and credit unions help people set up individual development accounts (IDAs) to help ensure that people will get broad ownership over the means of production and automation as automation becomes those means. In fact I recommend we do most of the things that community-wealth.org (a project of the Democracy Collaborative) recommends.
6. According to MMT, we can already just spend money into existence to cover the cost of a UBI and other programs that work in tandem with a UBI with the only limit being inflation and inflation will only occur when the money supply begins to outpace real resources in the economy and the economy is therefore already at capacity (by the way we are not near capacity if we are throwing away food before it even reaches stores, so we are no where near the inflation limit, actually it looks like we may be entering a period of deflation). In order to counter this inflation, if and when it occurs, we will need taxation to take money out of circulation. If we are going to use a consumption tax, a value added tax (VAT) is better than a sales tax for a variety of reasons, however it would have to be levied at a centralized level over all the states and territories that use the U.S. dollar, whereas a sales tax is easier for local taxation. We should consider taxation on automation itself (so the more automation the more revenue, and automation will only be adopted if it is actually useful), and on advertisements and data collection. We should also focus on taxing wealth, capital (such as a financial transaction tax - otherwise known as a tax on financial speculation), and extremely high incomes (or we can increase taxes on corporations that pay their highest paid employee more than 30 times what their median pay is). We could also introduce a land value tax, vacant property tax, luxury property tax, and commercial property tax at the federal level or local level (as a potential replacement for general property taxes). PS. for income taxes we should definitely switch to automatic, return-free tax filing, which is another policy that Andrew Yang supported.
#YangGang 😫❤