Book description
The main novelty of the Fourth Industrial Revolution is the entry of robots and Artificial Intelligence into the production process. This phenomenon could potentially generate high levels of unemployment, or even full unemployment, and therefore calls for innovative public policies.
This book adopts an agnostic position on the size of the future impact of technological progress on employment but proposes a thought experiment built on a full unemployment scenario, which focuses on the consequences that these policies might have for people’s well-being, with particular reference to the provision of a universal Basic Income (UBI). Relying on some of the principles and models of Behavioral and Happiness Economics, it is argued that implementing a UBI that does not change over time may increase well-being inequality. A policy mix that combines a rising basic income with other measures is therefore recommended.
This book marks a significant contribution to the literature on economic policy, labor economics, the economics of well-being and happiness, and behavioral economics.
Table of contents
- Cover
- Half Title
- Series Page
- Title Page
- Copyright Page
- Table of Contents
- Figures
- Introduction
- 1 Three waves of technological unemployment
-
2 Possible policy solutions to counteract the rise of technological unemployment and its consequences
- 2.1 Taxing robots, subsidizing human workers
- 2.2 Boosting education and/or professional training
- 2.3 Reducing per-capita working hours
- 2.4 Quotas…
- 2.5 …and the tradable permits approach
- 2.6 Employment Protection Legislation and Unemployment Benefits
- 2.7 Collectivizing firms (or similar policies)
- 2.8 Universal Basic Income
- References
- 3 Basic Income
- 4 Well-being and Behavioral Economics
-
5 The well-being impact of an unconditional Basic Income
- 5.1 Measuring the impact of technological unemployment on well-being
- 5.2 Measuring the impact of redistributive policies on well-being: the well-being impossibility theorem
- 5.3 The impact of Basic Income on well-being
- 5.4 Comparing Basic Income with conventional policy tools
- 5.5 Does Basic Income reduce well-being?
- References
- 6 Concluding remarks: an alternative/complementary policy proposal
- Index
Product information
- Title: Technological Unemployment, Basic Income, and Well-being
- Author(s):
- Release date: August 2023
- Publisher(s): Routledge
- ISBN: 9781000937640
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