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The universal basic income (UBI) appeals to many people. It appears to be a simple and relatively easy way to guarantee a minimum income to everyone. The proposal can mean simply giving everyone a fixed amount of money on a regular basis or the “negative income tax” favored by Nobel economist Milton Friedman. It appeals to some transhumanists who look ahead to a hoped-for day when AI-driven corporations produce tremendous value with little to no human input. Whether or not UBI is workable today, some believe it will be in this future.

The UBI as typically promoted is unworkable (especially today) and undesirable. An alternative offers an approach that we can start implementing immediately and that can evolve to fit the future of AI production. Rather than forcibly taking and distributing it instead encourages stock ownership by all by educating people about the long-term benefits (and risks) of investing. It could take the form of a required and protected amount of savings (something like a 401k). If shares in AI-driven corporations are to be simply given to everyone, it should be done once and not repeatedly to greatly reduce disincentives to be productive.

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