Comment by David Autor

So although I do not at all like the idea of universal basic income because I don’t think it solves many problems, and I think it creates others, I do like the idea of what some people call universal basic wealth where people are granted the endowment of capital at birth, like ownership of stuff. [...] But it also diversifies people because, let’s say, labor becomes less valuable, but capital becomes more valuable. Well, you’re hedged. And then additionally over the longer run, it broadly distributes the ownership of capital.