Chapter
The Role of Welfare State in the Face of Automation
25:32 - 36:00 (10:27)
The belief that robots are taking away good jobs and causing mass unemployment is a common misconception. The welfare state plays a vital role in mitigating the effects of automation on the workforce.
Clips
The assumption that robots are taking away jobs is a common one, but we need to look beyond this rhetoric and think about ways in which technology can actually help improve productivity and benefit society as a whole.
25:32 - 28:59 (03:26)
Summary
The assumption that robots are taking away jobs is a common one, but we need to look beyond this rhetoric and think about ways in which technology can actually help improve productivity and benefit society as a whole.
ChapterThe Role of Welfare State in the Face of Automation
EpisodePaul Krugman: Economics of Innovation, Automation, Safety Nets & Universal Basic Income
PodcastLex Fridman Podcast
Politicians and influential people refuse to believe that political decisions have caused income stagnation, leading to mass misery.
28:59 - 32:08 (03:09)
Summary
Politicians and influential people refuse to believe that political decisions have caused income stagnation, leading to mass misery. This is evident in the economics of the welfare state course taught by a CUNY professor.
ChapterThe Role of Welfare State in the Face of Automation
EpisodePaul Krugman: Economics of Innovation, Automation, Safety Nets & Universal Basic Income
PodcastLex Fridman Podcast
The welfare state encompasses all the programs that mitigate the injustices of the market economy, including Social Security, Medicare, Medicaid, minimum wages, and food stamps.
32:08 - 33:11 (01:02)
Summary
The welfare state encompasses all the programs that mitigate the injustices of the market economy, including Social Security, Medicare, Medicaid, minimum wages, and food stamps. Although the term "welfare state" has been demonized, it remains an essential aspect of a fair and just society.
ChapterThe Role of Welfare State in the Face of Automation
EpisodePaul Krugman: Economics of Innovation, Automation, Safety Nets & Universal Basic Income
PodcastLex Fridman Podcast
The trade-off between universality and targeting in social safety net programs involves balancing incentives and limited resources, but providing a welfare state is a fundamental part of every advanced country's society, including the US.
33:11 - 36:00 (02:49)
Summary
The trade-off between universality and targeting in social safety net programs involves balancing incentives and limited resources, but providing a welfare state is a fundamental part of every advanced country's society, including the US.