Sam Altman, CEO of OpenAI, has proposed a radical idea to create "universal extreme wealth" for all Americans in a future driven by artificial intelligence. He believes that traditional universal basic income (UBI) might not be enough and instead suggests giving everyone an ownership share in AI-generated wealth. This concept involves measuring the world's AI output in tokens and distributing a portion of it globally, allowing individuals to use, sell, or pool their tokens.
Altman's vision of "universal extreme wealth" remains speculative, but the appeal of income without labor is obvious. He argues that giving everyone access to the latest version of ChatGPT could supercharge productivity, helping people "make way more money" and grow richer faster "than ever before." Advanced AI might also discover breakthroughs, from new cures for diseases to new kinds of energy and even new ways to build spaceships.
However, critics warn of downsides, including potential discouragement of work, fueling inflation, and enormous costs and political hurdles. Nobel-winning economist Paul Krugman questions the feasibility of UBI, citing concerns about its cost and potential inadequacy. Supporters like Martin Ford, author of "Rise of the Robots," argue that UBI would ensure income is "adequately distributed throughout the population," helping maintain social stability and a "decent standard of living."
The debate surrounding UBI and AI-driven wealth highlights the need for innovative solutions to address the impact of automation on the job market. As AI continues to transform industries and economies, it's essential to explore new models for wealth distribution and social support.
