Policymakers Explore New Protections as AI Automation Poses Economic Risks
-
AI and automation could lead to mass unemployment and increased income inequality
-
Regulations alone cannot prevent these potential disasters, so policymakers must compensate citizens if they occur
-
Tax rates on the top 1% could automatically increase if inequality exceeds certain limits
-
Guaranteed basic income or wage subsidies may be needed to address unemployment
-
These proposals are more politically feasible than traditional tax hikes since they only trigger above current inequality levels and benefit a wider range of people