| Description |
1 online resource (184 pages) : illustrations |
| Series |
Routledge advances in economic policy |
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Routledge advances in economic policy.
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| Bibliography |
Includes bibliographical references and index. |
| Summary |
The main novelty of the Fourth Industrial Revolution is the entry of robots and Artificial Intelligence into the production process. This phenomenon could potentially generate high levels of unemployment, or even full unemployment, and therefore calls for innovative public policies. This book adopts an agnostic position on the size of the future impact of technological progress on employment but proposes a thought experiment built on a full unemployment scenario, which focuses on the consequences that these policies might have for people's well-being, with particular reference to the provision of a universal Basic Income (UBI). Relying on some of the principles and models of Behavioral and Happiness Economics, it is argued that implementing a UBI that does not change over time may increase well-being inequality. A policy mix that combines a rising basic income with other measures is therefore recommended. This book marks a significant contribution to the literature on economic policy, labor economics, the economics of well-being and happiness, and behavioral economics. |
| Contents |
Three waves of technological unemployment -- Possible policy solutions to counteract the rise of technological unemployment and its consequences -- Basic income -- Wellbeing and behavioral economics -- The wellbeing impact of an unconditional basic income -- Concluding remarks : and alternative/complementary policy proposal. |
| Subject |
Basic income.
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Unemployment insurance.
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Employees -- Effect of technological innovations on.
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Industry 4.0.
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Economic policy.
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Well-being.
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Economics -- Psychological aspects.
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| ISBN |
9781000937640 (electronic bk.) |
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100093764X (electronic bk.) |
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