Automation is referred to the use or introduction of automatic equipment and software in a manufacturing unit or in a service. In today’s world there is coming automation- fueled unemployment crisis coming as many industries have started automated themselves rapidly to maximize their profits and to decrease the cost of production which is basically decrease in cost of human labor.
Automation is spreading unemployment rapidly as robots and artificial intelligence have started replacing human labors in most of the manufacturing industries and services. According to a report, 99% of jobs of insurance underwriters are at risk due to the introduction of artificial intelligence. There is a very famous statement that software is eating the world which is somehow seems to be true. Robots to workers ratio is also increasing rapidly worldwide which also leads to the risk of unemployment. Even the developed countries are suffering from this crucial era.
A key example is the “American manufacturing crisis” where industries and factory jobs have been declining for a past few years that leads to destroying the local economics. The crisis exists but the reason is not that manufacturing units are moved anywhere or country has started importing goods from another countries. The factories are still there but they have become automated where very little human power is needed to keep them going away. This trend is not going down but increasing day by day.
Universal Basic Income is a fixed amount, given by the state to all of its citizens regardless of income or work status of the person. The idea is quite simple: – instead of complex social status and qualification, just give everyone a set amount of money every month, that will allow them to cover all the necessities of life. It seems to be an attractive idea in short run but this can be contradictory in this modern world because according to nature evolution is necessary for existence. If everybody is paid irrespective of their work then there would be no development and nobody would like to do any work.
So, it seems to be a good idea in short run but in long run it is completely unrealistic. One of the solution of this problem is for governments to provide basic resources like house, medical facilities, transport, services and so on for the people who really need them.
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