Economist Steve Keen on AI, robots, and universal basic income

Jul 22, 2026

If robots take most jobs, people without capital have no way to earn — bad for workers, and a case for handing everyone money.

  • The worry: once robots can do the work, anyone who doesn't own capital has no income at all.
  • Unskilled jobs go first, so there's no fallback for people pushed out.
  • The proposed fix is money paid to everyone out of what the economy produces — Musk calls it universal high income.
  • Without it, factories make goods nobody can afford to buy, and society splits into a Hunger Games have/have-not world.

Outlook: No timeline here — this is a long-run risk, but the debate over paying people a basic income is heating up now.

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