British billionaire Richard Branson has called on governments in the USA and Europe to start giving out free cash to immigrants in a bid to “solve inequality issues” faced by refugees.
During an interview about the migrant crisis in the USA and EU nations, Branson stated that the difference in wealth between migrants and legal citizens causes a divide that prevents a smooth integration into communities.
Branson made the comment in response to questions about inequality in the Western societies. A universal basic income, as it’s known, is a cash payment distributed to residents irrespective of their employment status.
In a report published in January, the global charity Oxfam found that 82% of the growth in global wealth in the previous year went to the top 1% of individuals ranked by riches. Meanwhile, the bottom 50% had no increase in their wealth.
Further, there are other reasons for cash handouts because robots will replace human jobs. On the other hand, machine learning and artificial intelligence will “make humans more productive”, according to Bill Gates.
“This will make experimenting with ideas like basic income even more important in the years to come.”
A report from the McKinsey Global Institute confirms the idea that automation will cause major disruption to the job market globally.
By 2030, 75 million workers around the globe will need to change occupational category due to automation, according to the December 2017 study, and 400 million jobs could be potentially displaced.
Neon Nettle / ABC Flash Point News 2018.