Elon Musk: As Automation Eliminates Jobs, Universal Basic Income Becomes an Economic Necessity

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It’s widely accepted now that as robots and automation penetrate more industries, certain roles once held by humans will become obsolete.

This, of course, has an upside and a downside. Elon Musk, founder of Tesla and SpaceX—companies at the forefront of technologies that can replace humans—says that for automation to not ruin economies, a “universal basic income” is necessary.

“I think there’s a pretty good chance we end up with a universal basic income due to automation,” Musk told CNBC. “I’m not sure what else what would do. I think that’s what would work.”

“People would have more time to do more complex things, more interesting things,” Musk added.

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