WKF: Universal basic income may not help ease disparity amid job migration : Paul Milgrom
이 글자크기로 변경됩니다.
(예시) 가장 빠른 뉴스가 있고 다양한 정보, 쌍방향 소통이 숨쉬는 다음뉴스를 만나보세요. 다음뉴스는 국내외 주요이슈와 실시간 속보, 문화생활 및 다양한 분야의 뉴스를 입체적으로 전달하고 있습니다.
“We have already seen a considerable growth in the earnings gap over the last two decades, and the pandemic accelerates this trend” said Stanford University professor Milgrom during a live Q&A session at the 22nd World Knowledge Forum held in Seoul, Korea on Tuesday. Another driver to this polarization is artificial intelligence, he pointed out, which creates high-paying jobs in the tech sector, whereas low-wage workers are replaced by robots.
To address the problem, a universal basic income (UBI) could be an answer, Milgrom agreed. “The UBI will be going to grow and become important. If human labor will be redundant with the growth of a permanent impoverished class, then we will have to make some changes like the universal basic income policy.”
But he was cautious about how it will develop, noting that the government-guaranteed payment for every citizen is still being tested in countries. “Time will tell. It's a little early to make a full call on this,” said Milgrom.
He noted that the rise of new technologies has threatened traditional jobs but at the same time has created new jobs.
Milgrom warned that current supply disruptions may continue to play out throughout next year despite a sharp economic recovery boosted by state spending and market reopening, which would bring a permanent change to the global supply chain networks.
“We will continue to see some temporary and permanent changes as well, and our adjustment to the pandemic will take time. Companies are now seeking more robust and resilient networks to address supply chain vulnerabilities, and this is going to involve some permanent changes.”
Touching on the global inequality in vaccine distribution between advanced and poor countries, the professor, best known for his contributions to the theory of auctions, said a market design cannot bring efficiency to vaccine supply, adding “it is a matter of politics not economy and therefore we have to get people comfortable with sharing quickly.”
[ⓒ Maeil Business Newspaper & mk.co.kr, All rights reserved]
Copyright © 매일경제 & mk.co.kr. 무단 전재, 재배포 및 AI학습 이용 금지
- Kakao to withdraw controversial businesses, put up fund to help partners - Pulse by Maeil Business News Korea
- Korean state lender IBK issues $500 mn sustainable bonds at cheapest rate - Pulse by Maeil Business News Korea
- Hanwha Q Cells licenses out patented solar cell technology to Germany - Pulse by Maeil Business News Korea
- Samsung Heavy Industries to shutter one of two ship block manufacturing lines in China - Pulse by Maeil Business News Korea
- Seoul readies response as ISD ruling versus Lone Star likely come out within the year - Pulse by Maeil Business News Korea
- 강경준, 상간남 피소…사랑꾼 이미지 타격 [MK픽] - 스타투데이
- K방산 아킬레스건은 [K-방산 : New Dream]
- NCT 태일, 불미스러운 일로 팀 탈퇴…SM “엄중함 인지”[공식입장][전문] - MK스포츠
- 이찬원, 이태원 참사에 "노래 못해요" 했다가 봉변 당했다 - 스타투데이
- 양희은·양희경 자매, 오늘(4일) 모친상 - 스타투데이