Universal basic income as a new social contract for the age of AI

As AI and automation displace jobs, a new social contract is needed to make sure technological progress and human welfare advance together, not at each other’s expense. Universal basic income represents a promising avenue. Gisella Ponce Bertello and Teresa Almeida analyse the history of UBI and write that its successful implementation depends on sustainable funding, investment in education and attention to social and psychological aspects, not only economic and labour market outcomes.