I know programmers are thrilled at the magic of modern AI but its very simple to tip it over even theoretically.
Self Driving cars are not even that good, they are better than the average and that is an immense amount of creative labour destruction. But if you look back at history there has been a greater amount of labour destruction both physical and mental.
Coming back to basic income.
Do you think the way we use resources in the modern world is anyway efficient ? Speaking from Physics we are still way off from having solved major problems in society.
Right now 1/2 of adults in the UK are on entitlement which puts immense debt burden on the other half.
Both US and Europe are heading in that direction.
Both US and Europe need a massive restructuring of their infrastructure if climate change is to be dealt with.
Not to mention helping african countries get on their feet.
Right now that burden is shared mostly be china who are helping build roads and other developed nations within africa like nigeria.
The faster we can get contraceptives to africa we can stop the problem of the african baby boom due to industrialization right at its toes. We know from data that the country of Nigeria alone will have 750 Million people by 2100.
These are real problems facing the globalized economy.
There also the problem of deflation.
Economically once the poor global south industrialize there will be immense downward pressure of wages for all forms of jobs.
We know what happened when 700 million chinese joined the global economy. What happens when the rest of the 3 billion join ? Most of them of younger age and would constitute higher labour productivity.
China as a country is already much more efficient - they have high speed rail links connecting their entire nation. No need to buy fossil fuels when all their transportation is powered via electric. which is generated by solar panels in the gobi desert.
They have one of the most sophisticated supply chain producing all our iphones and computers.
Now they are interested in doing the same in central asia which geographically is the most mineral rich regions on earth.
Yes all of this doesn't matter if you are in Europe where the population is low enough and the resources is high. But the cost of production will get lower and labour gets cheaper along with resources. We will end up with a situation where something in Europe costs significantly higher than produced in africa.