Former Secretary of Labor, Robert Reich, believes that middle-class workers may have to bid for jobs due to the rise of artificial intelligence (AI). This could lead to the need for a Universal Basic income strategy to ensure individuals have enough money to support themselves. In an interview with CNBC, Reich discussed the impact of AI on the employer-employee relationship and the importance of economic growth in achieving environmental goals.

According to Reich, AI will create a new system where individuals will work for AI, intermediaries, and platforms. They will be paid based on a spot auction rate, which can be efficient but also destabilizing for people’s lives. In this system, it becomes difficult to plan one’s life when earnings are determined by a constantly changing market.

Reich argues that AI will increase efficiency and productivity, leading to a need for a universal basic income to ensure people have enough money to participate in the economy. If large numbers of people are no longer needed due to AI and platforms, there must be a way to provide them with the necessary income to afford the products and services of the new economy.

Additionally, Reich emphasizes the importance of economic growth in addressing climate change. He states that it is wealthy countries that can afford to be environmentally responsible by investing in renewable energy and adaptation mechanisms. On the other hand, the poorest countries struggle the most in adapting to climate change.

Overall, Reich’s views highlight the potential challenges and necessary strategies in response to the increasing influence of AI in the workforce. Universal basic income and sustainable economic growth are discussed as possible solutions to ensure a fair and prosperous future for all.

Sources:
– Former Secretary of Labor, Robert Reich, in an interview with CNBC.

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