[Wash Times] Former Vice President Joe Biden says tech titans like Facebook’s Mark Zuckerberg and Tesla CEO Elon Musk are fundamentally misunderstanding the importance of work by calling for a "universal basic income."
A blog posted published by the University of Delaware’s Biden Institute on Monday unveiled a "worker first" initiative that rejects "no strings attached" policies prompted by influential billionaires while also fueling speculation about a possible 2020 U.S. presidential run by the former vice president.
"Economic transformations due to rapid advances in technology have created not only significant anxiety but also a legitimate debate about whether there will be sufficient jobs to sustain a vibrant middle class," Mr. Biden’s piece began.
"Some argue that these changes won’t lead to significant net job loss, so we need not worry. Others argue the risks are so great we should close up our borders to minimize the damage. One idea that has gained prominence, particularly among leaders in Silicon Valley, is universal basic income. The theory is that automation will result in so many lost jobs that the only plausible answer is some type of guaranteed government check with no strings attached."
Former President Obama’s right-hand man in the White House continued by saying that work is a virtue that brings with it an intrinsic value going beyond a paycheck. |