Note — Oct 21, 2018

A New Kind of Economy—An Interview with Andrew Yang

Seen in → No.53

Source → quillette.com/2018/10/06/a-new-kind-of-economy-...

Placing this under “tech” even though it’s politics because it’s mostly interesting for his (Yang, seeking the Democratic Party’s nomination for president in 2020) “diagnostic” about automation. I think he’s right in most parts as to where we are and the near future but his vision for solutions is hand wavy in many parts and, even after looking at his campaign site, I still don’t believe in his ideas for financing a UBI, which is central to his plan. Still, interesting to look into because there aren’t many candidate with this kind of outlook. (Oh, and, “Freedom Dividend” puh.lease!)

Briefly, his policy proposals include implementing a form of Universal Basic Income (also known as UBI, or what he calls the “Freedom Dividend”), universal healthcare, a “digital social currency,” and a redefinition of GDP that more accurately reflect the health of the nation. If this sounds like socialism then, according to Yang, your thinking about the economy might be antiquated. He contends that the capitalism/socialism spectrum is no longer relevant or useful if we take an honest look at the modern world. […]

Capitalism’s efficiency and GDP are going to have an increasingly nonexistent relationship to how most Americans are doing.