Universal Basic Income and Unemployment

Abstract

There has been an increase in technological advances towards artificial intelligence and robotics over the years. This increase have led to increases in automation and globalization. Due to increases in technology, automation, and globalization, there have been job losses and a depleting employment market. "Robots" are taking people's jobs away, which is increasing unemployment. A question that has been coming up amongst important and influential people in our economy is how does the government offset the increasing unemployment that is caused by technology advancement? What does this mean for people in poverty who needs those jobs the most? A popular concept called "Universal Basic Income" is being considered to answer these questions. This paper will try to find out if this consideration is plausible to help with the unemployment and poverty. the research question my paper tries to answer is does having a "Universal Basic Income" system benefit minorities in poverty?