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The content of this video is based on the book ‘The War on Normal People’,
authored by Andrew Yang.
Andrew Yang is an entrepreneur.
After a successful career in startups, he began a non-profit company called 'Venture
for America’, which recruited fresh graduates and turned them into entrepreneurs, to create
jobs and new businesses.
He did this for years, until he realized that it wasn’t really solving the big problems
of society, and that for every job he created, many times more than that were being lost.
New companies simply don’t create as many jobs as they did previously, mainly due to technology.
Experts and researchers are projecting an unprecedented wave of job destruction following
the development of artificial intelligence, robotics, software, and automation.
Automation has already eliminated 4 million manufacturing jobs in the United States since
2000, four times more than globalization did.
Instead of finding new work, half of these people left the workforce and never returned.
The US labor force rate is now at a measly 62.9%.
The country is in the midst of one of the greatest economic shifts in the history of
mankind, The Fourth Industrial Revolution, and no one seems to be talking about it.
The average American didn’t graduate from college, has a net worth of approximately
$36K, has less than $500 in flexible savings, and lives paycheck to paycheck.
When the jobs start disappearing because of advancing technology, the normal American
is in deep trouble.
Half of all working americans work in one of these five sectors: Office and administrative
support, sales and retail, food preparation and serving, transportation and material moving,
and production.
All of these are subject to automation in the future.
Between 2 and 3 million Americans who drive vehicles for a living will lose their jobs
in the next 10 to 15 years.
Most truckers don’t realize this, but self-driving trucks are going to replace them.
Ubers will become driverless.
White-collar jobs will also start to disappear.
Repetitive and routine work will be automated and replaced with AI that can do it
just as well or even better.
Lawyers, accountants, traders and radiologists are at risk.
Even therapy is being partially delegated to AI as some people are more comfortable
confiding in a robot.
Already in 2017 a Chinese robot performed a dental implantation procedure,
without the assistance of a human.
The reality we are facing is that hiring humans comes with a lot of downsides.
We sleep, we become sick or injured, we can be unreliable, we get bored, we have bad days,
we expect time off.
Robots and AI don’t.
Communities that lose jobs become ridden with alcohol and drug abuse, depression, suicide,
crime, corruption, and lose both population and economic growth to states that are doing
better, contributing to the widening economic gap between the rich and poor.
America isn’t in a great place right now.
Student debt is at an all time high of 1.5 trillion dollars, 15 times the amount it was
just 20 years ago.
The students themselves are doing worse, with record high levels of reported stress and
demand for counseling.
The work that creates the biggest social benefits and cultural impact, such as being a teacher,
mother, father, or caregiver, are ironically the things that make the least amount of money.
A mindset of scarcity is rampant and leads to lowered cognitive function, divisiveness,
tribalism, and an aversion to starting new businesses.
The rate of suicide has now surpassed the rate of auto-accident deaths.
One out of every six male aged 25-54 are not in the work force.
What are they doing?
Enjoying cheap entertainment in the form of ever-increasingly immersive video games and
streaming services, while living with their parents.
The number of single parents is increasing, and they are almost all women.
Drug companies and the medical system have produced over 2 million opioid addicts, many
of whom have graduated to using heroin.
The percentage of working-age Americans receiving disability benefits has doubled in the last
40 years, reaching 5.2 percent.
When someone is on disability they have a huge disincentive to work, because it will
lead to losing their benefits.
As a result, virtually nobody recovers from disability.
The media is fragmented, and the public doesn’t trust institutions anymore.
There are potential solutions to these problems.
Andrew Yang’s main proposal is to implement a universal basic income, or UBI,
which he dubs the “Freedom Dividend”.
As a right of citizenship and as a shareholder of the nation, every individual over the age
of 18 would receive $1000 every month.
This would elevate every American to the poverty line and eradicate gross poverty.
Universal basic income isn’t a new idea.
It almost became law in the US in 1970.
Martin Luther King was for it in 1967 when he said “I am now convinced that the simplest
approach will prove to be the most effective - the solution to poverty is to abolish it
directly by a now widely discussed measure: the guaranteed income.”
In more recent times, Elon Musk stated in 2017
“I think we’ll end up doing universal basic income… It’s going to be necessary”
It has been tried out in several countries
and areas, including the state of Alaska, for 37 years, and the results are positive.
Stress goes down, alcohol consumption goes down, domestic violence goes down,
relationships improve, health improves, crime rates go down.
Putting money into people’s hands would be a perpetual boost to job growth and the economy.
Imagine a small town of 10 000 adults.
That’s an additional $10 million dollars every month that will end up circulating in
that area, stimulating local business.
When you give a community this money, they spend it on things such as car repairs, feeding
children, eating at restaurants, piano lessons, and it goes straight back into the economy.
An analysis performed by the Roosevelt Institute on this proposal, found that adopting it would
grow the economy by 13 percent.
If you thought UBI would end up making people lazy and stop working,
that doesn’t really happen.
The data shows that it’s mainly mothers and teenagers who work a bit less when given
a UBI, and they spend that extra time on meaningful things such as family and school.
Receiving $1000/month doesn’t mean that people can just quit their jobs.
You still need to work.
But now you won’t experience the existential threat related to unexpected bills and potentially
being laid off from work.
It contributes in shifting the mindset from that of scarcity, to abundance.
The freedom dividend would be paid for by implementing a
Value Added Tax, or VAT for short.
As Stephen Hawking put it in 2015: “Everyone can enjoy a life of luxurious leisure if the
machine-produced wealth is shared, or most people can end up miserably poor
if the machine-owners successfully lobby against wealth redistribution."
The VAT is a taxation system where people and companies pay tax when they purchase something
or employ a service.
It would make it much harder for the growing tech giants such as Google, Netflix, and Amazon
to avoid taxes.
Some of these companies have actually paid zero in taxes in some of the recent years.
A VAT system has been introduced in 166 countries around the world and has shown to be successful.
Andrew’s second big suggestion is what he calls human-centered capitalism.
And what that entails is this: progress as a society should be measured by looking at
how well we are doing in a holistic sense.
Things like median income and standard of living.
Surveys of national well-being.
Average physical fitness and mental health.
Quality of infrastructure.
Environmental quality.
Public safety.
Informational integrity in journalism.
And economic growth.
Presenting the numbers for everyone to see, so the proper action can be taken towards
improving them, because humanity is more important than money.
Thank you for watching this video.
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The War On Normal People & Why UBI is Our Future - Andrew Yang

8 Folder Collection
王惟惟 published on March 2, 2020
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