HELSINKI: Finland tried and quickly discovered that the latest hot idea among the techno-lords of Silicon Valley (and their lackeys in the California Democratic Party) is a dud. The failed idea for the way the rest of us should live is so-called Universal Basic Income. Universal Basic Income is a policy that’s been lauded by tech leaders from Mark Zuckerberg to Elon Musk as a proposed solution to job loss due to automation. Last Sunday, it officially became part of California’s Democratic Party platform, signaling that the idea is beginning to enter the political mainstream at the same time Silicon Valley leaders are putting their weight behind it.
Universal Basic Income is the idea that all citizens should receive a certain amount of money from the government, with no regulations on spending attached. In recent years, tech leaders have funded major projects in the space: Y Combinator Research piloted a program in Oakland that gave people $1,500 a month for a year, and Facebook co-founder Chris Hughes is funding a project in Stockton for working individuals. He just wrote a book advocating for the idea of giving every working person in the U.S. $500 a month.
While UBI is still seen as a long shot on a national scale, the recent move signals that it’s entering the political mainstream in California. Democratic politicians in the state seeking party endorsement are supposed to read and get behind the party platform, including basic income.
