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"Despite Joseph's assertions, the middle-aged engineers who were laid off didn't go away and become software engineers – they largely landed up in worse jobs or on the scrapheap."

Reminds me of something a popular 2020 candidate says regularly about retraining failures as automation arrives to suck up jobs.

UK might need a Yang like $1000 pound/month citizen's dividend.

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These minimum guaranteed income ideas are really interesting to me. It would remove a lot of the ritual humiliation we put benefit claimants through when they are desperate and often feeling worthless before we push them to sell themselves into a job. Not to mention the reduction in the cost to administrate the welfare system. Some might choose to use their income to take a stress break from work or write a novel or paint something; there may be untold benefits to such a system to society.

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