It's a modified version of a talk I first gave at the EmTech (Emerging Technology) meeting in Toulouse France, on the 10th of October 2017. For the first time, I managed to talk about my two passions in the same talk - my interest in brain-inspired computation, and my interest in economic reform.
Essentially, I argue that $10 chips with Neural Computing algorithms will be replacing humans in many paid jobs. The resulting transformation in society will lead to a catastrophy if we continue with the current system. However, solutions already exist.
I claim that we need a Universal Basic Income, and suggest three perfectly valid ways to implement such a system. These are (a) using negative income tax, (b) using Central Bank Money Creation, and (c) imposing a tiny Financial Transaction Tax on all electronic transactions.
Interestingly, it looks there are more and more people who think that the Robotics revolution is going to result in many people losing their jobs in the coming years. Well known science broadcaster James Burke was on BBC radio a couple of days ago saying that 90% of jobs will disappear in the next 30 years. And to my delight, he also said that he thinks that a Universal Basic Income could be the solution. You can find the broadcast here. James' presentation starts after 51 minutes.