Elon Musk Says 'If AI/Robots Increase Output, Then You Must Issue Dollars To People or There Will Be Massive Disinflation'
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Elon Musk suggests that a universal high income could be a solution to job losses caused by artificial intelligence, as long as output increases accordingly. Economist Sanjeev Sanyal has criticized Musk's proposal, calling it economically unsound and risky for government finances.
Elon Musk has argued that a universal high income could be a viable response to job losses tied to artificial intelligence, provided that automation significantly increases output. Musk's idea is based on the ratio between the money supply and the availability of goods and services. If AI and robots boost production, more purchasing power must be distributed to avoid disinflation. Economist Sanjeev Sanyal has pushed back against Musk's proposal, calling it fiscally reckless. Sanyal disputes the notion that automation leads to a permanent shortage of work, pointing to historical trends where innovation created new job categories. Musk's vision is tied to his broader expectations for the future of work, including the potential impact of Tesla's humanoid robot, Optimus. Musk acknowledges the potential for significant workforce disruption but believes that increased productivity could eliminate poverty.
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