WEBVTT

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♪

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This is the 24th century.

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A lot has changed
in the past 300 years.

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People are no longer
obsessed with

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the accumulation of things.

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We have eliminated
hunger, want,

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the need for possessions.

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We\'\'ve grown out
of our infancy.

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It has never been
about possessions.

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It\'\'s about power.

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(static)

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I have a dream!

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Sieg Heil!

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♪

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Over the course of history,

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our common wealth--
the land, water,

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and air around us--
has been appropriated

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by a few while the majority
lost its legitimate entitlement

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to the gifts of nature.

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And with ownership
came power.

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Nowadays in
the 24th century,

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money doesn\'\'t exist anymore,

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and the resources
are commonly owned.

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The new age dawned
over 300 years ago

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in your time,

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at the beginning
of the 21st century.

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It all started with
an idea that was so simple

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only a few were able
to understand it.

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It was the idea
of an unconditional

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basic income.

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Now, imagine a world
with peace, love, harmony,

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and where you\'\'re paid
for just being alive.

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This is a crazy idea.

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Just so this is clear,
because I want people

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to understand this idea, right?

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The idea is that
the government

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writes people a check
for, say, $20,000 a year

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because you\'\'re
an American citizen.

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Rich or poor,
everyone gets a check,

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and that\'\'s on top
of any salary you may earn.

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♪

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♪ This land is your land ♪

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♪

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♪ This land is my land ♪

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♪

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♪ From California ♪

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♪ Well, to the
New York island ♪

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My plan is real simple.

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Everybody over the age of 21

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gets a monthly deposit

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into a known bank account.

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♪ I tell you ♪

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♪ This land ♪

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♪ Was made for you and me ♪

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It\'\'s really
a type of freedom

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that most human beings have
never experienced before.

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We\'\'ve always had that thing
in the back of our heads,

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\"If I don\'\'t work,
I don\'\'t eat.\"

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♪ This land ♪

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♪ Was made for you and me ♪

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Our middle class
is falling apart.

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People are talking
about that now,

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but they aren\'\'t talking
about solutions.

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And this is
an obvious solution.

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♪ Well, on the back side ♪

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It has the advantage
of a kind of bold simplicity.

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Bold simplicity with
a powerful idea behind it.

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♪ Back side ♪

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♪ Was made for you and me ♪

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♪ Yeah ♪

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♪

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At the beginning
of the 21st century,

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Goöötz Werner,
the founder of the largest

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European drugstore chain,
was among those who were

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thinking about a way
to decouple work from income.

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(suitcase thumping)

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♪

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The idea had
various names:

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guaranteed annual income,

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negative income tax,

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or unconditional
basic income.

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(radio chatter)

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Valdez is only
30 minutes away.

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One of the virtues
of an unconditional

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basic income was that
it could be implemented

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incrementally in
a phased approach.

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Let me give you an example.

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We gotta go up
over the glacier,

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and then fly down in.

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That\'\'s where the pipeline
from Prudhoe Bay ends.

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Right, exactly.

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♪

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Oil at the North Slope.

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Oil at Alaska\'\'s
North Slope

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at Prudhoe Bay,
a lot of it!

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Possibly the biggest
discovery in history.

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In 1969, the very first payment
of $900 million was made

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from the oil industry
to the State of Alaska

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because they discovered
oil north,

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the very far north:
Prudhoe Bay.

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And the first payment was really
quite a shock to the state,

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which had been
fairly poor.

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There had been
a fishing industry,

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a little bit of mining,
a little bit of tourism.

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But generally speaking,
the budgets were very small.

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Alaska\'\'s experiencing
a money boom.

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Cash generated
by Alaskan oil

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is expected to produce
tens of billions of dollars.

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This puts Alaska in
the enviable position

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of deciding how to spend
all this money.

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And there\'\'s no
shortage of ideas.

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It doesn\'\'t matter what
they\'\'re gonna spend it on,

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they\'\'re gonna find something.

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Perhaps exploration
of outer space.

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Buying a football team,
which might be

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an interesting thing.

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I think we should
save some of it,

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and give some of it
back to the people.

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The people of the state
had a big conversation

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about \"What should we do
with all the money?\"

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There was a lot of needs
for schools, and libraries,

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and hospitals,
and roads, and bridges,

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but there was also
a sense that because

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Prudhoe Bay was
a limited-life field

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that some day the oil
would run out,

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and some day the money
would run out.

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So, Governor Jay Hammond,
along with a number

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of legislators, proposed
creating a savings account,

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which we call
the Alaska Permanent Fund.

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♪

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Welcome to Alaska.

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Here\'\'s a thousand dollars.

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Well, it\'\'s about time! But why?

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We pay every resident
a thousand dollars

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to allow the oil companies
to ravage our state\'\'s

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natural beauty.

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I\'\'m home!

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Aw, thanks.

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♪

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You know, Alaska
is a unique place.

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Some people in
the continental U.S.

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still might think
it\'\'s a foreign country.

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And, you know, it\'\'s definitely
a unique place to live.

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Hey, what\'\'s up, baby girl?

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Huh?

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Yeah, on the window?

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Yeah?

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As we experience
the Permanent Fund Dividend,

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there\'\'s lots of rules
about how long

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you\'\'ve had to have been here,

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and how many days
you could be absent,

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and exceptions if
you\'\'re a college student,

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or exceptions if
you\'\'re in the military

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or something like that.

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So every year you have
until the end of March

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to apply and kind of
prove that you are

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a resident of the state,

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and you fill out
the questionnaire,

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and if you forget to do it
by the end of March,

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you\'\'re out of luck that year.

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Which Nathan
forgot one year,

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and it happened
to be the year--

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-A couple years.
-Oh, one that I remember,

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because it happened to be
the year that our governor

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did a bonus.

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And so that year
the dividend

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was like almost $3,000.

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And he forgot.

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And then in October,

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end of September
beginning of October,

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there\'\'s kind of this big deal
they\'\'re gonna announce

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what the amount is
for that year,

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\'\'cause it changes every year.

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The 2014 dividend
will be distributed

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to Alaskans
beginning October 2nd.

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That\'\'s when the checks
will be directly deposited

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or mailed to those
who chose that option.

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So, with that, I\'\'ll speak
for another half hour

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before announcing
the amount.

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Commissioner Rodell,
the envelope please.

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And it\'\'s kind of unusual.

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This year there are
three seals on the back.

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I\'\'m not sure why.

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But let\'\'s get to this.

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So, Alaskans,
2014 dividend amount

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is $1884.

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The oil companies coming in
and using our resources,

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and I think it\'\'s
a good thing that,

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you know, Alaska would
get something back.

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Can you push my foot?

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And the PFD,
as far as I understand,

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it\'\'s part of the revenue
from the investments.

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Half of it gets reinvested
back in the fund,

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and then half of it
gets divided amongst

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all of the citizens
of the state.

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My turn?

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No, for you be safe.

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Okay, thanks, Lizzy.

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Oh, man, you\'\'ve got
some big muscles.

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So, we\'\'re a family of four,

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and everybody in the family
receives the PFD.

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Us personally,
since we had kids,

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we take their PFD
and put it towards

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a college fund.

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So when they turn--

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or we think of it
as a college fund,

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I hope they use it
as a college fund.

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I mean, that\'\'s quite
a bit of money

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that wouldn\'\'t be
there otherwise.

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Our kids, if we can
continue this,

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will be strongly
in the middle class,

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maybe even upper middle class,

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and maybe it\'\'s because
of the idea that

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it\'\'s gonna be harder
to hold onto that.

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I don\'\'t necessarily
want them to have

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a better life than we have.

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If they can just have
the life that we have,

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that would be great.

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You know?

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♪

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From the Port of Valdez,

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the end of the
Trans-Alaska Pipeline,

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the oil was carried down

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to the continental
United States.

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It was here
in San Francisco in 1976

00:12:31.083 --> 00:12:34.125
that Peter Barnes
founded a worker-owned

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solar energy company.

00:12:37.166 --> 00:12:38.083
Land, water, and air,

00:12:38.083 --> 00:12:41.125
these gifts of nature
are different

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from the kind of
private property

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that humans create
by their individual effort.

00:12:47.500 --> 00:12:51.834
He has focused on fixing
the deep flaws of capitalism.

00:12:51.834 --> 00:12:55.583
Peter Barnes\'\' vision was
to pay everyone dividends

00:12:55.583 --> 00:12:58.999
from the wealth
we earn together.

00:12:58.999 --> 00:13:01.208
When we create some
wealth individually,

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we have a right to own
that wealth individually.

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But if we receive wealth
from the creation,

00:13:09.041 --> 00:13:11.375
from nature,
from the commons,

00:13:11.375 --> 00:13:16.250
that wealth, rightfully,
belongs to everybody equally.

00:13:16.250 --> 00:13:22.583
♪

00:13:22.583 --> 00:13:24.834
We can take
the Alaskan model

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and blow it up,
apply it nationwide

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to all 50 states,

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and not actually
base it on oil,

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but base it on other
forms of common wealth

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that really belong
to everybody,

00:13:40.959 --> 00:13:45.083
but aren\'\'t appropriately
charged for.

00:13:45.083 --> 00:13:49.709
♪

00:13:49.917 --> 00:13:51.458
The flip side of it,
with Alaska, right,

00:13:51.458 --> 00:13:53.875
is this idea of this
check to everyone,

00:13:53.875 --> 00:13:57.083
which does seem
so sort of anathema,

00:13:57.083 --> 00:13:57.959
so un-American, right?

00:13:57.959 --> 00:14:00.333
So ridiculous that
you would just

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write people checks,

00:14:01.166 --> 00:14:03.000
but the idea of
the government

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just writing people checks

00:14:04.041 --> 00:14:08.041
has this very long
conservative heritage.

00:14:08.792 --> 00:14:15.250
♪

00:14:15.250 --> 00:14:18.500
Support for
an unconditional basic income

00:14:18.500 --> 00:14:22.709
has never been tied
to any political affiliation.

00:14:22.709 --> 00:14:24.166
Some on the left
held the view

00:14:24.166 --> 00:14:27.125
that a basic income
would benefit workers

00:14:27.125 --> 00:14:29.625
by liberating them
from the tyranny

00:14:29.625 --> 00:14:31.041
of wage slavery.

00:14:31.041 --> 00:14:32.917
Many labor unions, however,

00:14:32.917 --> 00:14:34.291
opposed a basic income

00:14:34.291 --> 00:14:37.041
because the separation
of income and work

00:14:37.041 --> 00:14:39.875
threatened
their very existence.

00:14:39.875 --> 00:14:41.709
♪

00:14:41.709 --> 00:14:44.458
Most conservatives
despise the idea

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because they regarded
the interconnection

00:14:46.542 --> 00:14:49.333
of income and work
as a law of nature.

00:14:49.333 --> 00:14:52.208
Free market economists,
like Friedrich Hayek

00:14:52.208 --> 00:14:54.625
and Milton Friedman,
however, endorsed

00:14:54.625 --> 00:14:57.999
a basic income to limit
government bureaucracy,

00:14:57.999 --> 00:15:00.750
and eliminate
the welfare state.

00:15:00.750 --> 00:15:02.375
Actually, a basic
guaranteed income

00:15:02.375 --> 00:15:06.667
has a very distinguished
intellectual pedigree

00:15:06.667 --> 00:15:07.417
for Libertarians.

00:15:07.417 --> 00:15:11.792
In 2006, the American
Libertarian political scientist,

00:15:11.792 --> 00:15:15.291
Charles Murray, again
made the conservative case

00:15:15.291 --> 00:15:17.834
for an unconditional
basic income.

00:15:17.834 --> 00:15:19.125
When I wroteIn Our Hands

00:15:19.125 --> 00:15:21.291
advocating a basic
guaranteed income,

00:15:21.291 --> 00:15:24.375
my friend who is the head
of the Cato Institute,

00:15:24.375 --> 00:15:25.458
a Libertarian think tank,

00:15:25.458 --> 00:15:29.583
referred to it as
\"that wacky book you wrote.\"

00:15:29.583 --> 00:15:32.208
I would like to think
that the idea

00:15:32.208 --> 00:15:33.875
of a basic guaranteed income

00:15:33.875 --> 00:15:35.542
has the potential
to make a comeback

00:15:35.542 --> 00:15:38.709
among Libertarians
as well as people on the left.

00:15:38.709 --> 00:15:41.999
And, to me,
look at what\'\'s happened

00:15:41.999 --> 00:15:44.417
to the family,
to work effort,

00:15:44.417 --> 00:15:48.792
to the civic culture
over the last 50 years,

00:15:48.792 --> 00:15:54.542
it\'\'s kind of an obvious
indictment of the way

00:15:54.542 --> 00:15:57.250
that we are redistributing
money now.

00:15:57.250 --> 00:16:00.375
So, would a basic
guaranteed income

00:16:00.375 --> 00:16:02.375
have some bad effects?

00:16:02.375 --> 00:16:04.041
I suppose so.

00:16:04.041 --> 00:16:06.999
But we\'\'re living
in a society

00:16:06.999 --> 00:16:12.083
that has huge,
documented bad effects

00:16:12.083 --> 00:16:14.583
of the same kinds.

00:16:14.583 --> 00:16:17.041
How much worse can it get?

00:16:17.041 --> 00:16:25.333
♪

00:16:35.959 --> 00:16:39.000
At the same time as
the Trans-Alaska Pipeline

00:16:39.000 --> 00:16:42.083
was built and the
Permanent Fund created,

00:16:42.083 --> 00:16:45.000
citizens of a small town
in Canada became part

00:16:45.000 --> 00:16:49.834
of one of the biggest
social experiments in history.

00:16:51.709 --> 00:16:54.834
The Mincome Experiment
in Dauphin, Manitoba,

00:16:54.834 --> 00:16:58.583
examined the effects
of a basic income on society.

00:16:58.583 --> 00:17:04.834
A family of four received
5,800 Canadian dollars a year.

00:17:05.041 --> 00:17:06.375
This was the equivalent

00:17:06.375 --> 00:17:09.667
of 22,000 U.S. dollars in 2016.

00:17:09.667 --> 00:17:12.125
In the words of the renowned
social theorist, Woody Allen,

00:17:12.125 --> 00:17:14.291
and I quote, \"Money is
better than poverty

00:17:14.291 --> 00:17:16.250
if only for
financial reasons.\"

00:17:16.250 --> 00:17:17.208
-Now...
-(laughter)

00:17:17.208 --> 00:17:19.458
Woody\'\'s still got
the best lines.

00:17:19.458 --> 00:17:21.250
And joining us now
on the debate

00:17:21.250 --> 00:17:23.625
in Winnipeg, Manitoba,
economist Evelyn Forget,

00:17:23.625 --> 00:17:26.458
professor in the Department
of Community Health Sciences

00:17:26.458 --> 00:17:27.999
at the University of Manitoba.

00:17:27.999 --> 00:17:29.166
Evelyn, talk to us
about this,

00:17:29.166 --> 00:17:30.500
because I know you did
some studies on programs

00:17:30.500 --> 00:17:34.000
that were in Manitoba that
tried to do similar things

00:17:34.000 --> 00:17:35.041
back in the 1970s.

00:17:35.041 --> 00:17:35.834
What did you find?

00:17:35.834 --> 00:17:37.959
That\'\'s right, we actually
went back to the--

00:17:37.959 --> 00:17:40.250
There were five guaranteed
income experiments

00:17:40.250 --> 00:17:41.375
in North America
in the 1970s.

00:17:41.375 --> 00:17:44.208
Four of them were in the U.S.,
and one was in Canada.

00:17:44.208 --> 00:17:46.917
The Canadian experiment
took place in Manitoba,

00:17:46.917 --> 00:17:49.000
and it was called Mincome.

00:17:49.792 --> 00:17:51.208
Eric Richardson
was a teenager

00:17:51.208 --> 00:17:55.208
when his family
was part of this experiment.

00:17:57.083 --> 00:17:58.999
-Hi, Evelyn?
-Must be Eric?

00:17:58.999 --> 00:18:01.125
Well, it\'\'s nice
to finally meet you.

00:18:01.125 --> 00:18:01.709
(laughter)

00:18:01.709 --> 00:18:04.417
We\'\'ve only spoken
on the phone, I guess.

00:18:04.417 --> 00:18:13.417
♪

00:18:13.417 --> 00:18:16.458
So, all kinds of data
was collected

00:18:16.458 --> 00:18:18.166
on every family.

00:18:20.083 --> 00:18:23.792
And it\'\'s just an attempt
to find out

00:18:23.792 --> 00:18:24.750
what kind of things you do,

00:18:24.750 --> 00:18:26.542
what kind of things
your children do,

00:18:26.542 --> 00:18:27.750
do you belong to clubs or--

00:18:27.750 --> 00:18:28.750
You go to church or clubs?

00:18:28.750 --> 00:18:31.625
Do you go to church,
do you belong to the lodge?

00:18:31.625 --> 00:18:33.542
You know, who do you
socialize with?

00:18:33.542 --> 00:18:35.375
Would you say that
most of the people

00:18:35.375 --> 00:18:36.792
you work with
or do business with

00:18:36.792 --> 00:18:38.417
are very friendly,
moderately friendly,

00:18:38.417 --> 00:18:40.250
only a little friendly,
not friendly at all?

00:18:40.250 --> 00:18:43.250
So, I mean, you\'\'ve got
a good sense of how

00:18:43.250 --> 00:18:45.250
this community operates.

00:18:45.250 --> 00:18:49.458
♪

00:18:49.458 --> 00:18:51.917
Did you ever come
across my mother\'\'s file?

00:18:51.917 --> 00:18:54.542
Actually, I don\'\'t--
these are de-identified data,

00:18:54.542 --> 00:18:56.417
so the families,
the privacy of the families

00:18:56.417 --> 00:19:01.083
were protected by, um,
by confidentiality legislation.

00:19:01.083 --> 00:19:03.000
So I\'\'ve got the families
identified by numbers.

00:19:03.000 --> 00:19:06.375
So in principle, yes,
I could find your mother\'\'s box.

00:19:06.375 --> 00:19:07.999
In practice,
I haven\'\'t done that,

00:19:07.999 --> 00:19:11.542
and, you know,
there are 1,800 boxes

00:19:11.542 --> 00:19:13.041
associated with this project.

00:19:13.041 --> 00:19:15.083
It\'\'ll remain a mystery.

00:19:18.417 --> 00:19:21.125
Well, somebody
phoned me, I guess.

00:19:21.125 --> 00:19:24.000
And they chose
every third house,

00:19:24.000 --> 00:19:27.000
that\'\'s how I got chosen.

00:19:27.000 --> 00:19:29.792
And...they would come

00:19:29.792 --> 00:19:30.792
and check up on us

00:19:30.792 --> 00:19:34.208
every couple of weeks, and...

00:19:34.208 --> 00:19:35.709
then after it got going,

00:19:35.709 --> 00:19:38.417
it seemed like a good idea.

00:19:39.125 --> 00:19:41.917
And who decided
how much you needed?

00:19:41.917 --> 00:19:42.792
Well, this--

00:19:42.792 --> 00:19:44.834
Well, the--the government.

00:19:44.834 --> 00:19:46.792
The ones that started
the program.

00:19:46.792 --> 00:19:48.625
-Okay.
-They figured, according

00:19:48.625 --> 00:19:51.125
to how many people
you had in the family,

00:19:51.125 --> 00:19:55.333
that was the way they
figured the cost of living

00:19:55.333 --> 00:19:57.041
that you needed.

00:19:57.625 --> 00:19:59.083
How long did that go on?

00:19:59.083 --> 00:20:02.667
From \'\'74 to \'\'78.

00:20:03.709 --> 00:20:06.625
Everybody thought
Mincome was good,

00:20:06.625 --> 00:20:09.834
they were very pleased with it.

00:20:09.834 --> 00:20:10.834
But it was just dropped.

00:20:10.834 --> 00:20:14.125
The government said
they had no money, so...

00:20:17.250 --> 00:20:20.792
I think maybe the politics
changed in Ottawa,

00:20:20.792 --> 00:20:23.166
that\'\'s why the two, uh,

00:20:23.166 --> 00:20:27.375
provincial and federal
didn\'\'t go together

00:20:27.375 --> 00:20:29.792
on keeping it running.

00:20:29.792 --> 00:20:33.583
At least, I think that\'\'s
partly what happened.

00:20:33.583 --> 00:20:38.208
Or maybe they didn\'\'t have
any money, I don\'\'t know.

00:20:38.208 --> 00:20:40.542
You never know
with the government.

00:20:40.542 --> 00:20:42.208
And now we\'\'re going
to get into a little bit

00:20:42.208 --> 00:20:43.417
of debate and discussion
about it.

00:20:43.417 --> 00:20:45.917
Tasha Kheiriddin, columnist
with theNational Post,

00:20:45.917 --> 00:20:49.291
co-author of the book
Rescuing Canada\'\'s Right.

00:20:49.291 --> 00:20:51.166
The work effort,
first of all,

00:20:51.166 --> 00:20:52.458
of people who are
in the experiment

00:20:52.458 --> 00:20:55.750
compared to a control group
was much less.

00:20:55.750 --> 00:20:57.417
Married men,
on average, 9 percent;

00:20:57.417 --> 00:20:59.125
married women,
on average, 20 percent.

00:20:59.125 --> 00:21:01.375
The big jump, though,
was for men

00:21:01.375 --> 00:21:02.959
who were not yet
heads of household,

00:21:02.959 --> 00:21:04.375
single men,
who worked an average

00:21:04.375 --> 00:21:07.792
of 43 percent less
in terms of hours.

00:21:07.792 --> 00:21:09.417
♪

00:21:09.417 --> 00:21:12.333
If you\'\'re a little bit
more in favor

00:21:12.333 --> 00:21:13.500
of a guaranteed income,

00:21:13.500 --> 00:21:15.667
you put it in slightly
different language.

00:21:15.667 --> 00:21:18.083
And what that meant
was that adolescents

00:21:18.083 --> 00:21:19.999
reduced the number
of hours they worked

00:21:19.999 --> 00:21:21.000
pretty significantly.

00:21:21.000 --> 00:21:23.208
And when I looked
more closely,

00:21:23.208 --> 00:21:25.250
I discovered that, um,
they reduced the number

00:21:25.250 --> 00:21:26.583
of hours they worked
because they took

00:21:26.583 --> 00:21:28.917
their first full time
job at a later age.

00:21:28.917 --> 00:21:31.375
So we found all those
irresponsible young men,

00:21:31.375 --> 00:21:35.625
um, in high school,
actually finishing grade 12.

00:21:35.625 --> 00:21:39.500
♪

00:21:39.500 --> 00:21:42.166
Finally, in 1978,
the researchers were told

00:21:42.166 --> 00:21:44.875
to archive the data
for future analysis,

00:21:44.875 --> 00:21:49.667
and the project ended without
any kind of a final report.

00:21:49.667 --> 00:21:52.875
♪

00:21:52.875 --> 00:21:54.208
Could it happen again?

00:21:54.208 --> 00:21:56.875
In some ways, it could be done
a lot more efficiently

00:21:56.875 --> 00:21:58.000
and a lot more cheaply.

00:21:58.000 --> 00:22:00.083
So you think they
could actually have

00:22:00.083 --> 00:22:02.500
the program now?

00:22:02.500 --> 00:22:04.917
Give everybody money?

00:22:04.917 --> 00:22:05.959
Do I think that?

00:22:05.959 --> 00:22:07.875
Yes, I think
that it would be

00:22:07.875 --> 00:22:11.500
a much more efficient way
of delivering

00:22:11.500 --> 00:22:12.250
social programs.

00:22:12.250 --> 00:22:13.917
Evelyn, tell me this,
if this is such

00:22:13.917 --> 00:22:16.458
a compellingly obvious
and good idea,

00:22:16.458 --> 00:22:18.417
how come it hasn\'\'t
happened yet?

00:22:18.417 --> 00:22:20.999
Well, I think you answered
that question just a minute ago.

00:22:20.999 --> 00:22:23.083
The political right
is worried about

00:22:23.083 --> 00:22:23.917
the work disincentives,

00:22:23.917 --> 00:22:26.083
and the political left
doesn\'\'t quite trust

00:22:26.083 --> 00:22:27.875
people to make their own
decisions and choices.

00:22:27.875 --> 00:22:29.834
So there\'\'s still not
the political will

00:22:29.834 --> 00:22:30.625
for this to happen?

00:22:30.625 --> 00:22:32.083
I think most people
seem to recognize

00:22:32.083 --> 00:22:33.834
the current system
is not working,

00:22:33.834 --> 00:22:34.542
we need to make changes,

00:22:34.542 --> 00:22:37.875
and we\'\'d like to talk about
some of those big ideas.

00:22:37.875 --> 00:22:40.834
(train chugging)

00:22:45.458 --> 00:22:48.583
The first experiment
of its kind was begun

00:22:48.583 --> 00:22:51.083
in New Jersey in the 1960s.

00:22:51.083 --> 00:22:53.291
Three further experiments
followed,

00:22:53.291 --> 00:22:56.583
the biggest in Seattle
and Denver.

00:22:59.792 --> 00:23:03.291
At the beginning of
Ronald Reagan\'\'s presidency,

00:23:03.291 --> 00:23:05.000
the experiments
were called off

00:23:05.000 --> 00:23:08.083
and never fully evaluated.

00:23:11.083 --> 00:23:12.041
But how did it come about

00:23:12.041 --> 00:23:16.959
that those experiments were
conducted in the first place?

00:23:20.250 --> 00:23:30.208
♪

00:23:30.375 --> 00:23:32.583
Six days of rioting
in the negro section

00:23:32.583 --> 00:23:35.792
of Los Angeles left behind
scenes reminiscent

00:23:35.792 --> 00:23:36.999
of war-torn cities.

00:23:36.999 --> 00:23:39.750
More than 100 square blocks
were decimated

00:23:39.750 --> 00:23:40.750
by fire and looters,

00:23:40.750 --> 00:23:43.417
and Martin Luther King
vowed to do all in his power

00:23:43.417 --> 00:23:47.999
to prevent a recurrence
in Los Angeles or anywhere.

00:23:47.999 --> 00:23:51.834
♪

00:23:51.834 --> 00:23:53.250
It was a fight.

00:23:53.250 --> 00:23:55.583
It was a fight
at a time when

00:23:55.583 --> 00:23:57.875
the cities were in turmoil.

00:23:58.000 --> 00:24:02.792
The United States has had
race riots for a very long time,

00:24:02.792 --> 00:24:07.125
but until fairly recently,
the people rioting

00:24:07.125 --> 00:24:10.583
were white people
trying to hound

00:24:10.583 --> 00:24:12.875
and terrorize blacks
so they would get out

00:24:12.875 --> 00:24:15.291
of their community,
their city.

00:24:15.291 --> 00:24:18.875
But these were riots
by black people

00:24:18.875 --> 00:24:22.125
who were fighting
for a place

00:24:22.125 --> 00:24:23.625
in American society.

00:24:23.625 --> 00:24:26.792
Now, one of the answers,
it seems to me,

00:24:26.792 --> 00:24:29.750
is a guaranteed
annual income,

00:24:29.750 --> 00:24:31.875
a guaranteed minimum income

00:24:31.875 --> 00:24:35.959
for all people
and for all families

00:24:35.959 --> 00:24:37.208
of our country.

00:24:37.208 --> 00:24:39.542
(shouting)

00:24:39.750 --> 00:24:42.291
And as that kind
of pressure built up,

00:24:42.291 --> 00:24:45.875
there was more
and more talk of

00:24:45.875 --> 00:24:48.125
a guaranteed income,
basic income,

00:24:48.125 --> 00:24:50.875
negative income tax,
even Milton Friedman

00:24:50.875 --> 00:24:53.458
started talking about
negative income tax.

00:24:53.458 --> 00:24:54.458
First of all,
you better--

00:24:54.458 --> 00:24:57.583
you\'\'d better explain
your negative income tax,

00:24:57.583 --> 00:25:00.125
because it\'\'s frequently
misunderstood.

00:25:00.125 --> 00:25:01.166
Yes, it certainly is.

00:25:01.166 --> 00:25:03.750
The proposal for
a negative income tax

00:25:03.750 --> 00:25:05.500
is a proposal to help people

00:25:05.500 --> 00:25:08.417
by giving them money,
which is what they need,

00:25:08.417 --> 00:25:11.000
rather than as now
by requiring them to come

00:25:11.000 --> 00:25:13.667
before a governmental official
to tail all their assets

00:25:13.667 --> 00:25:16.875
and their liabilities,
and be told that you may spend

00:25:16.875 --> 00:25:19.208
X dollars on rent,
Y dollars of food,

00:25:19.208 --> 00:25:21.667
et cetera, and then
be given a handout.

00:25:21.667 --> 00:25:22.542
(shouting)

00:25:22.542 --> 00:25:24.166
Wait a minute,
wait a minute, don\'\'t push!

00:25:24.166 --> 00:25:27.166
People come down here
3:00, 2:00 in the morning,

00:25:27.166 --> 00:25:30.166
and have to sit down here
and wait until they decide

00:25:30.166 --> 00:25:32.667
to open this door
for us to get in.

00:25:32.667 --> 00:25:34.000
They ask about your sex lives!

00:25:34.000 --> 00:25:35.000
You taking birth
control pill,

00:25:35.000 --> 00:25:36.500
what you doing,
who are you going--

00:25:36.500 --> 00:25:38.625
They do, that\'\'s what
they do down here.

00:25:38.625 --> 00:25:41.125
This is the worst
center they got.

00:25:41.291 --> 00:25:43.250
Poor people
and people on welfare

00:25:43.250 --> 00:25:44.625
are always being attacked

00:25:44.625 --> 00:25:46.375
as though they
don\'\'t want to work

00:25:46.375 --> 00:25:48.959
when the real problem is
they can\'\'t get a job,

00:25:48.959 --> 00:25:50.250
or they can\'\'t get a job
that pays them

00:25:50.250 --> 00:25:53.583
an adequate amount of money
to support their families.

00:25:53.583 --> 00:25:55.583
♪

00:25:55.583 --> 00:25:59.250
In 1967, President
Lyndon B. Johnson

00:25:59.250 --> 00:26:01.875
appointed a high-ranking
commission composed

00:26:01.875 --> 00:26:04.959
of economists,
union representatives,

00:26:04.959 --> 00:26:06.041
and business leaders.

00:26:06.041 --> 00:26:07.959
Two years later,
the president\'\'s commission

00:26:07.959 --> 00:26:12.375
on income maintenance programs
recommended the implementation

00:26:12.375 --> 00:26:17.000
of an unconditional basic income
in the United States.

00:26:17.000 --> 00:26:20.375
♪

00:26:20.375 --> 00:26:21.792
It probably carries with it

00:26:21.792 --> 00:26:25.000
a rather radical
redefinition of work,

00:26:25.000 --> 00:26:28.583
and with automation
and cybernation with us now,

00:26:28.583 --> 00:26:32.208
we will probably have to do
that in our society anyway.

00:26:32.208 --> 00:26:33.208
Yeah, but in general terms,

00:26:33.208 --> 00:26:34.250
how much should
the guaranteed--

00:26:34.250 --> 00:26:36.208
Well, it would depend
on the size of the family.

00:26:36.208 --> 00:26:39.208
I would think
of a floor of $4,000.

00:26:39.208 --> 00:26:42.583
Three, two, one, zero.

00:26:42.583 --> 00:26:44.959
♪

00:26:44.959 --> 00:26:47.208
$4,000 in 1967

00:26:47.208 --> 00:26:51.417
would\'\'ve been
almost $30,000 in 2016.

00:26:51.417 --> 00:26:57.125
♪

00:26:57.125 --> 00:26:58.583
Uh, go ahead, Mr. President.

00:26:58.583 --> 00:26:59.750
Hello, Neil and Buzz.

00:26:59.750 --> 00:27:01.542
I\'\'m talking to you
by telephone

00:27:01.542 --> 00:27:04.000
from the Oval room
at the White House,

00:27:04.000 --> 00:27:06.125
and this certainly has
to be the most historic

00:27:06.125 --> 00:27:10.041
telephone call ever made
from the White House.

00:27:10.041 --> 00:27:12.583
♪

00:27:12.583 --> 00:27:15.000
And then came
Richard Nixon.

00:27:15.000 --> 00:27:17.750
On the 8th of August, 1969,

00:27:17.750 --> 00:27:19.542
two weeks after
the Americans

00:27:19.542 --> 00:27:20.667
landed on the moon,

00:27:20.667 --> 00:27:24.375
he presented his version
of a basic income:

00:27:24.375 --> 00:27:26.625
the Family Assistance Plan.

00:27:26.625 --> 00:27:28.125
If the present
trend continues,

00:27:28.125 --> 00:27:32.667
another four million
will join the welfare rolls

00:27:32.667 --> 00:27:34.041
by 1975.

00:27:34.041 --> 00:27:37.333
And that is why tonight
I, therefore, propose

00:27:37.333 --> 00:27:40.792
that we abolish
the present welfare system

00:27:40.792 --> 00:27:43.999
and that we adopt
in its place a new

00:27:43.999 --> 00:27:47.250
family assistance system.

00:27:47.458 --> 00:27:52.875
As director of the Office
of Economic Opportunity,

00:27:52.875 --> 00:27:57.166
uh, I am naming
Don Rumsfeld,

00:27:57.166 --> 00:27:58.959
a congressman
from Illinois--

00:27:58.959 --> 00:28:02.959
As the new director of the
Office of Economic Opportunity,

00:28:02.959 --> 00:28:05.166
a young Donald Rumsfeld
was responsible

00:28:05.166 --> 00:28:10.291
for conducting the negative
income tax experiments.

00:28:10.291 --> 00:28:11.542
They had started
a year earlier,

00:28:11.542 --> 00:28:15.083
under Johnson, to establish
whether a basic income

00:28:15.083 --> 00:28:18.208
had negative effects
on work effort.

00:28:18.208 --> 00:28:20.875
To convince Congress
of Nixon\'\'s plan,

00:28:20.875 --> 00:28:23.500
preliminary results
were published.

00:28:23.500 --> 00:28:25.625
What we have to do
is to see that the program

00:28:25.625 --> 00:28:28.000
operates in a way
that we are allowed

00:28:28.000 --> 00:28:29.792
to continue and that
we are functioning

00:28:29.792 --> 00:28:31.000
in a way that serves
the poor,

00:28:31.000 --> 00:28:34.583
and functioning in a way
that Congress will provide

00:28:34.583 --> 00:28:35.750
the funds we need.

00:28:35.750 --> 00:28:37.750
I\'\'ll be able to tell you
a lot better after we see

00:28:37.750 --> 00:28:39.917
what the House of
Representatives does,

00:28:39.917 --> 00:28:41.333
I would think.

00:28:41.333 --> 00:28:43.750
♪

00:28:43.750 --> 00:28:46.125
There was no decline
in work effort.

00:28:46.125 --> 00:28:48.542
On the contrary,
the results showed

00:28:48.542 --> 00:28:52.542
that work effort
had actually increased.

00:28:55.250 --> 00:28:58.458
Most people want
self-fulfilling jobs,

00:28:58.458 --> 00:29:00.083
they want a sense of dignity,

00:29:00.083 --> 00:29:01.291
and they want to work.

00:29:01.291 --> 00:29:02.333
And if we don\'\'t
believe in that,

00:29:02.333 --> 00:29:06.083
then we shouldn\'\'t have put
this program forward at all.

00:29:06.083 --> 00:29:13.333
♪

00:29:13.333 --> 00:29:15.709
On the 16th of April, 1970,

00:29:15.709 --> 00:29:18.583
the House of Representatives
passed Nixon\'\'s

00:29:18.583 --> 00:29:24.750
Family Assistance Plan
by a vote of 243 to 155.

00:29:24.750 --> 00:29:27.458
Now it was the Senate\'\'s turn.

00:29:27.458 --> 00:29:28.750
♪

00:29:28.750 --> 00:29:31.000
But in California,
things started to change.

00:29:31.000 --> 00:29:35.375
Governor Ronald Reagan opposed
the Family Assistance Plan

00:29:35.375 --> 00:29:39.208
and refused to go along
with Nixon\'\'s idea.

00:29:40.500 --> 00:29:41.625
And the plan was stalled

00:29:41.625 --> 00:29:45.250
in the Senate
Finance Committee.

00:29:46.333 --> 00:29:49.166
We have a report from
the Flight Dynamics Officer

00:29:49.166 --> 00:29:51.000
that the vehicle has exploded.

00:29:51.000 --> 00:29:52.333
Flight Director
confirms that.

00:29:52.333 --> 00:29:54.458
We are looking
at checking

00:29:54.458 --> 00:29:57.375
with the recovery forces
to see what can be done

00:29:57.375 --> 00:29:59.291
at this point.

00:30:01.375 --> 00:30:04.542
The Senate vote
never took place.

00:30:04.542 --> 00:30:08.667
For now, the fight
for a basic income was lost.

00:30:08.667 --> 00:30:10.458
(cheering)

00:30:10.458 --> 00:30:13.291
And not least due
to the constant attacks

00:30:13.291 --> 00:30:15.583
on the inefficient
welfare state

00:30:15.583 --> 00:30:18.166
from both the right
and the left,

00:30:18.166 --> 00:30:21.208
Ronald Reagan
came to power.

00:30:22.291 --> 00:30:23.875
Here we are.

00:30:23.875 --> 00:30:25.250
We want Reagan!

00:30:25.250 --> 00:30:26.959
We want Reagan!

00:30:26.959 --> 00:30:28.458
We want Reagan!

00:30:28.458 --> 00:30:30.959
Thank you very much.

00:30:30.959 --> 00:30:34.792
In the last three decades
after World War II,

00:30:34.792 --> 00:30:38.417
the vast majority
of Americans did well

00:30:38.417 --> 00:30:39.583
when the economy did well.

00:30:39.583 --> 00:30:41.834
The bottom 90 percent
did pretty well.

00:30:41.834 --> 00:30:43.041
Bottom 90 percent
did pretty well,

00:30:43.041 --> 00:30:44.709
bottom 90 percent
did pretty well.

00:30:44.709 --> 00:30:47.166
Bottom 90 percent
begins to do less well.

00:30:47.166 --> 00:30:50.333
Less well, but they\'\'re
still getting a majority

00:30:50.333 --> 00:30:51.917
of the new income.

00:30:51.917 --> 00:30:52.834
Whoa!

00:30:52.834 --> 00:30:54.875
What happens in 1982?

00:30:54.875 --> 00:30:57.709
Well, Ronald Reagan
is president,

00:30:57.709 --> 00:30:58.875
and the good news is

00:30:58.875 --> 00:31:01.500
we are into
trickle-down economics.

00:31:01.500 --> 00:31:03.250
Instead of being
the famous, you know,

00:31:03.250 --> 00:31:08.500
trickle down that was advertised
by the Reagan administration,

00:31:08.500 --> 00:31:11.709
what we\'\'ve seen really
is a trickle up.

00:31:11.709 --> 00:31:14.375
Emmanuel Saez became
Professor of Economics

00:31:14.375 --> 00:31:17.625
at the University
of California in Berkeley

00:31:17.625 --> 00:31:18.542
in 2002.

00:31:18.542 --> 00:31:21.083
His work, performed
with Thomas Piketty,

00:31:21.083 --> 00:31:22.250
includes tracking
the incomes

00:31:22.250 --> 00:31:25.834
of the poor, middle class,
and rich around the world.

00:31:25.834 --> 00:31:29.750
As you make the economic
environment more favorable

00:31:29.750 --> 00:31:30.709
to top earners,

00:31:30.709 --> 00:31:34.208
you see money moving
away, you know,

00:31:34.208 --> 00:31:35.375
from the broad middle class

00:31:35.375 --> 00:31:38.166
and towards the top
of the distribution.

00:31:38.166 --> 00:31:41.125
We are in Omaha, Nebraska,
for a conversation

00:31:41.125 --> 00:31:42.041
with Warren Buffett.

00:31:42.041 --> 00:31:43.667
Like so many people,
I got up this morning

00:31:43.667 --> 00:31:45.333
in New York and read
theNew York Times

00:31:45.333 --> 00:31:46.417
editorial page
and I found

00:31:46.417 --> 00:31:49.458
the following column
written by him.

00:31:49.458 --> 00:31:51.041
It is an op-ed
which is called

00:31:51.041 --> 00:31:52.417
\"Stop Coddling
the Super-Rich.\"

00:31:52.417 --> 00:31:55.458
You\'\'ve had the income of
the top Americans quintuple,

00:31:55.458 --> 00:31:57.208
top 400, in the last 20 years.

00:31:57.208 --> 00:32:01.208
This is becoming a nation
of haves and have-nots,

00:32:01.208 --> 00:32:01.917
and super haves.

00:32:01.917 --> 00:32:04.166
The Reagan revolution
decided, you know,

00:32:04.166 --> 00:32:07.959
to have, you know,
free market forces

00:32:07.959 --> 00:32:12.125
shape the distribution
and remove as many as possible,

00:32:12.125 --> 00:32:15.750
you know, of the government
regulations in which

00:32:15.750 --> 00:32:19.417
we saw an explosion
of inequality.

00:32:20.333 --> 00:32:23.125
Inequality, as such,
though, has never been

00:32:23.125 --> 00:32:27.333
something that Americans
have been very excited about.

00:32:27.333 --> 00:32:28.999
You in Europe are
much more excited

00:32:28.999 --> 00:32:31.041
about inequality,
as such, is a bad thing.

00:32:31.041 --> 00:32:34.625
Americans are more likely
to say, \"Hey, so Bill Gates

00:32:34.625 --> 00:32:35.999
has $50 billion.

00:32:35.999 --> 00:32:38.083
He\'\'s not taking it
out of my pocket.

00:32:38.083 --> 00:32:39.542
You know, he didn\'\'t steal it.

00:32:39.542 --> 00:32:42.291
Uh, good luck to him.\"

00:32:42.291 --> 00:32:44.208
There is, however,
a real problem

00:32:44.208 --> 00:32:46.625
with the middle class
in that if you work hard

00:32:46.625 --> 00:32:50.709
and play by the rules,
you\'\'re supposed to get ahead.

00:32:50.709 --> 00:32:52.750
And you\'\'re supposed
to, over time,

00:32:52.750 --> 00:32:54.125
be making more money
than you used to,

00:32:54.125 --> 00:32:55.542
having a better life
than you used to,

00:32:55.542 --> 00:32:58.417
your children have a better
chance at their lives.

00:32:58.417 --> 00:33:03.166
That has been undercut
by the stagnation in wages.

00:33:03.166 --> 00:33:05.375
We\'\'re not just talking about

00:33:05.375 --> 00:33:06.834
desperately needy people.

00:33:06.834 --> 00:33:09.375
We\'\'re talking about
almost everybody

00:33:09.375 --> 00:33:12.750
in our country who,
if they want to remain

00:33:12.750 --> 00:33:16.542
part of the middle class,
are gonna need some supplemental

00:33:16.542 --> 00:33:19.417
income above and beyond
what they can earn

00:33:19.417 --> 00:33:20.792
through labor.

00:33:20.792 --> 00:33:23.667
(police sirens)

00:33:25.834 --> 00:33:26.750
God bless America!

00:33:26.750 --> 00:33:29.709
And God bless New York City!

00:33:29.709 --> 00:33:31.458
I love New York!

00:33:34.458 --> 00:33:36.834
New York has become

00:33:36.834 --> 00:33:39.000
kind of a city

00:33:39.000 --> 00:33:41.625
where you have
two kinds of people:

00:33:41.625 --> 00:33:42.250
the rich people

00:33:42.250 --> 00:33:45.458
and everybody else
working for the rich people.

00:33:46.542 --> 00:33:50.709
It has been known
for man to be a survivor,

00:33:50.709 --> 00:33:52.792
and he always will.

00:33:52.792 --> 00:33:55.959
There will always
be another place,

00:33:55.959 --> 00:33:57.625
another planet,

00:33:57.625 --> 00:33:58.667
another job,

00:33:58.667 --> 00:34:00.917
another trip, and greed!

00:34:00.917 --> 00:34:03.917
Because in this town,
greed is good!

00:34:08.417 --> 00:34:09.792
It\'\'s inevitable.

00:34:09.792 --> 00:34:12.875
The strongest
will be the leaders.

00:34:12.875 --> 00:34:14.291
The best will win.

00:34:14.291 --> 00:34:17.834
And the rest
will have to follow.

00:34:17.834 --> 00:34:19.750
Simple economics.

00:34:19.750 --> 00:34:29.333
♪

00:34:29.792 --> 00:34:37.917
♪

00:35:38.875 --> 00:35:40.625
(applause)

00:37:58.375 --> 00:38:04.208
♪

00:38:04.208 --> 00:38:05.959
Howdy.

00:38:05.959 --> 00:38:08.250
♪

00:38:08.250 --> 00:38:09.542
Howdy.

00:38:09.542 --> 00:38:12.583
♪

00:38:44.458 --> 00:38:54.709
♪

00:38:56.999 --> 00:39:01.291
With a basic income of,
say, $1,500 per month,

00:39:01.291 --> 00:39:03.667
four friends could\'\'ve
clumped together

00:39:03.667 --> 00:39:05.083
to spend the rest
of their lives

00:39:05.083 --> 00:39:09.458
chasing the biggest wave
of the Californian coast,

00:39:09.458 --> 00:39:12.000
and they could have
afforded to do so.

00:39:12.000 --> 00:39:16.999
Together, they would have
had $72,000 a year.

00:39:16.999 --> 00:39:19.709
♪

00:39:19.709 --> 00:39:21.375
What would you do?

00:39:21.375 --> 00:39:24.750
What would you do
if you won the lottery?

00:39:24.750 --> 00:39:27.125
♪

00:40:02.917 --> 00:40:05.750
(banging)

00:42:00.083 --> 00:42:05.291
♪

00:42:05.291 --> 00:42:07.834
Over the years,
economists have conducted

00:42:07.834 --> 00:42:10.083
several studies
of lottery winners.

00:42:10.083 --> 00:42:12.083
The application
of this scientific knowledge

00:42:12.083 --> 00:42:14.667
has a direct bearing
on the everyday life

00:42:14.667 --> 00:42:17.166
and habits of the average man.

00:42:17.166 --> 00:42:19.041
♪

00:42:19.041 --> 00:42:20.333
To the researchers\'\' surprise,

00:42:20.333 --> 00:42:23.792
winning up to $5,000
per month for a lifetime

00:42:23.792 --> 00:42:27.458
didn\'\'t influence
work effort negatively.

00:42:27.458 --> 00:42:31.917
♪

00:42:31.917 --> 00:42:33.750
On the contrary,
the security

00:42:33.750 --> 00:42:35.291
of a guaranteed
income floor

00:42:35.291 --> 00:42:37.999
enabled most of
the winners to pursue

00:42:37.999 --> 00:42:39.166
their innermost dreams,

00:42:39.166 --> 00:42:42.333
and become successful
entrepreneurs.

00:42:42.333 --> 00:42:44.166
(applause)

00:42:48.999 --> 00:42:52.542
A Berlin-based group
of basic income activists

00:42:52.542 --> 00:42:55.125
established their
own lottery in 2014.

00:42:55.125 --> 00:42:59.959
Winners received a monthly
basic income of 1,000 euros

00:42:59.959 --> 00:43:01.375
for one year.

00:43:01.375 --> 00:43:04.208
(applause)

00:45:13.750 --> 00:45:16.667
(applause)

00:46:38.542 --> 00:46:40.999
(applause)

00:46:55.417 --> 00:46:58.333
(applause)

00:47:28.333 --> 00:47:30.917
With the current
system that we have,

00:47:30.917 --> 00:47:34.375
we\'\'re facing huge
problems of all kinds

00:47:34.375 --> 00:47:38.792
that a basic guaranteed income
will do a lot to solve.

00:47:38.792 --> 00:47:40.917
I can afford to live
with a few people

00:47:40.917 --> 00:47:43.834
surfing in California
on my tax dollars

00:47:43.834 --> 00:47:46.542
and still think
a basic guaranteed income

00:47:46.542 --> 00:47:48.792
is the way to go.

00:47:49.333 --> 00:47:58.083
♪

00:47:58.083 --> 00:48:00.750
(sirens wailing)

00:48:00.750 --> 00:48:02.000
♪

00:48:02.000 --> 00:48:06.750
Here\'\'s a dirty little secret
about why we don\'\'t have

00:48:06.750 --> 00:48:09.166
a guaranteed income.

00:48:09.166 --> 00:48:13.792
The elites are
hugely condescending

00:48:13.792 --> 00:48:15.959
toward ordinary people.

00:48:15.959 --> 00:48:18.250
They know better.

00:48:18.250 --> 00:48:19.750
They can help.

00:48:19.750 --> 00:48:23.750
And whereas these truck drivers
and factory workers

00:48:23.750 --> 00:48:26.208
are likely to do
really stupid things

00:48:26.208 --> 00:48:28.917
if you just give
them the money.

00:48:28.917 --> 00:48:30.959
♪

00:48:42.959 --> 00:48:48.041
The advances that
the Republican Party made

00:48:48.041 --> 00:48:49.583
came to be coupled

00:48:49.583 --> 00:48:52.792
with the advances
of big business in politics,

00:48:52.792 --> 00:48:59.125
and increasingly
over the last 50 years really,

00:48:59.125 --> 00:49:02.000
the United States
has been dominated

00:49:02.000 --> 00:49:07.041
by this Republican
big business alliance.

00:49:07.041 --> 00:49:16.166
♪

00:49:16.166 --> 00:49:18.542
Over the course
of the 20th century,

00:49:18.542 --> 00:49:21.417
the idea of Western
democracy was hijacked

00:49:21.417 --> 00:49:23.542
by the interests
of big business.

00:49:23.542 --> 00:49:27.458
The idea of responsible
and informed citizens

00:49:27.458 --> 00:49:29.166
ceased to exist.

00:49:29.333 --> 00:49:33.000
The citizen was replaced
by the consumer.

00:49:33.000 --> 00:49:39.041
♪

00:49:39.041 --> 00:49:42.542
I think what
democracy means today

00:49:42.542 --> 00:49:44.917
in reality to a large extent,

00:49:44.917 --> 00:49:47.875
manipulated consent,
not forced consent,

00:49:47.875 --> 00:49:50.583
manipulated consent and
manipulated more and more

00:49:50.583 --> 00:49:52.875
with the help
of Madison Avenue.

00:49:52.875 --> 00:49:56.458
♪

00:49:56.458 --> 00:49:59.917
There\'\'s a term that has come
into some use in recent years

00:49:59.917 --> 00:50:04.917
called \"rent seeking,\" which
describes what companies do

00:50:04.917 --> 00:50:06.291
in Washington
and other state capitals

00:50:06.291 --> 00:50:09.750
where they send lobbyists,
vast numbers of lobbyists

00:50:09.750 --> 00:50:11.917
make all sorts of
campaign contributions,

00:50:11.917 --> 00:50:13.041
and what are
they really after?

00:50:13.041 --> 00:50:16.625
They\'\'re really after ways
to protect their industries

00:50:16.625 --> 00:50:18.542
so that they can
charge higher prices

00:50:18.542 --> 00:50:23.500
and extract rent from everybody
who buys their products.

00:50:23.500 --> 00:50:26.959
And that includes
a lot of companies

00:50:26.959 --> 00:50:27.750
in the medical industry.

00:50:27.750 --> 00:50:31.667
It includes software industry,
which is protected by things

00:50:31.667 --> 00:50:36.250
like copyrights, which
enable companies to charge

00:50:36.250 --> 00:50:39.583
far more than it actually
costs to produce a product.

00:50:39.583 --> 00:50:44.542
We don\'\'t charge banks
anything to use

00:50:44.542 --> 00:50:48.083
our financial infrastructure
for their own benefit.

00:50:48.083 --> 00:50:49.999
In fact, we subsidize them,

00:50:49.999 --> 00:50:51.999
and when they fail,
we bail them out.

00:50:51.999 --> 00:50:56.625
The Walton family is the
wealthiest family in America.

00:50:56.625 --> 00:50:59.000
Does anybody on the panel
think that they need

00:50:59.000 --> 00:51:00.709
significant welfare help?

00:51:00.709 --> 00:51:03.875
And yet it turns out that they
are the largest recipient

00:51:03.875 --> 00:51:05.291
of welfare in America,

00:51:05.291 --> 00:51:09.250
because when you pay
workers starvation wages,

00:51:09.250 --> 00:51:10.667
which is what Walmart does,

00:51:10.667 --> 00:51:14.166
how do the workers at
Walmart or McDonald\'\'s

00:51:14.166 --> 00:51:15.291
or Burger King survive?

00:51:15.291 --> 00:51:18.792
Well, they get Medicaid for
their kids and for themselves.

00:51:18.792 --> 00:51:22.375
They get food stamps, they
live in government sponsored

00:51:22.375 --> 00:51:23.458
affordable housing.

00:51:23.458 --> 00:51:26.458
So I start off with
my question to Dr. Winship

00:51:26.458 --> 00:51:27.500
and we\'\'ll go down the line.

00:51:27.500 --> 00:51:30.625
Do you think the Walton family,
worth $100 billion,

00:51:30.625 --> 00:51:31.500
is in need of welfare

00:51:31.500 --> 00:51:32.834
from the middle class
of this country?

00:51:32.834 --> 00:51:34.917
So I would not use
the word welfare,

00:51:34.917 --> 00:51:35.959
I think it\'\'s stigmatizing.

00:51:35.959 --> 00:51:37.583
Do you think their
workers in large numbers

00:51:37.583 --> 00:51:39.375
should have to get
Medicaid or food stamps?

00:51:39.375 --> 00:51:45.458
What I think is that Walmart
has the low prices, which--

00:51:45.458 --> 00:51:47.000
Please answer my question.

00:51:47.000 --> 00:51:48.417
I\'\'m sorry, repeat
the question for me.

00:51:48.417 --> 00:51:50.583
The question is, does
anybody think it makes moral

00:51:50.583 --> 00:51:55.375
or economic sense that one
family, the Walton family,

00:51:55.375 --> 00:51:58.500
owns more wealth
than the bottom 40 percent

00:51:58.500 --> 00:52:01.083
of the American people?

00:52:04.542 --> 00:52:08.792
In 2016, only two years
after this Senate hearing,

00:52:08.792 --> 00:52:11.542
the six Walmart heirs
owned as much wealth

00:52:11.542 --> 00:52:15.875
as one half of the
American population.

00:52:16.583 --> 00:52:21.041
Here are some of
those 160 million people.

00:52:21.041 --> 00:52:22.542
Who\'\'s Walmart?

00:52:22.542 --> 00:52:24.000
I\'\'m Walmart!

00:52:24.000 --> 00:52:25.166
Who\'\'s Walmart?

00:52:25.166 --> 00:52:27.458
I\'\'m Walmart.

00:52:28.375 --> 00:52:30.208
We\'\'re trying to hold
Walmart accountable

00:52:30.208 --> 00:52:32.333
on their actions and inactions
of how they treat

00:52:32.333 --> 00:52:35.917
their associates and
specifically veterans,

00:52:35.917 --> 00:52:37.667
the way they treat
the military veterans

00:52:37.667 --> 00:52:40.542
that they\'\'re
hiring these days.

00:52:40.542 --> 00:52:42.542
Walmart had hit
a billion dollars,

00:52:42.542 --> 00:52:44.417
if I\'\'m not mistaken,
what, 1979?

00:52:44.417 --> 00:52:46.625
So we\'\'re talking about
almost 30 somethin\'\' years

00:52:46.625 --> 00:52:51.041
where they could have been
paying us just livable wages,

00:52:51.041 --> 00:52:53.125
we\'\'re not asking
for $30 an hour,

00:52:53.125 --> 00:52:55.166
you know, we\'\'re asking
for a fraction of that,

00:52:55.166 --> 00:52:56.583
and that\'\'s just
bare minimum living.

00:52:56.583 --> 00:52:59.500
Even though Walmart\'\'s the
richest company in the world,

00:52:59.500 --> 00:53:00.625
it\'\'s not about
money for them,

00:53:00.625 --> 00:53:03.291
it\'\'s about the power
and control that they have

00:53:03.291 --> 00:53:04.125
over the associates.

00:53:04.125 --> 00:53:05.959
If you made under
32 hours a week,

00:53:05.959 --> 00:53:07.667
they cut your
healthcare benefits.

00:53:07.667 --> 00:53:09.999
I mean, I\'\'m 40 hours,
but I mean, what happens

00:53:09.999 --> 00:53:14.125
if there\'\'s an associate that\'\'s
working this job part time

00:53:14.125 --> 00:53:15.709
and they\'\'ve been there,
they put in their time

00:53:15.709 --> 00:53:17.250
to get that healthcare
and then all of a sudden

00:53:17.250 --> 00:53:18.625
it just disappears
out of thin air,

00:53:18.625 --> 00:53:20.625
like, what\'\'s
the point in that?

00:53:20.625 --> 00:53:22.208
I mean, as--we get sick,

00:53:22.208 --> 00:53:25.291
we\'\'re always gonna get sick,
who doesn\'\'t get sick?

00:53:25.291 --> 00:53:26.166
I mean, it\'\'s...

00:53:26.166 --> 00:53:30.291
It\'\'s gonna take young
activists such as, you know,

00:53:30.291 --> 00:53:31.333
Tiffy and everybody out here

00:53:31.333 --> 00:53:33.166
and just the American
people in general

00:53:33.166 --> 00:53:37.417
to start standing up and just
not in the retail business,

00:53:37.417 --> 00:53:39.709
but in the American dream,
the American way altogether.

00:53:39.709 --> 00:53:44.333
People need to wake up
before they get booted out.

00:53:44.333 --> 00:53:47.166
You know, get a revolution.

00:53:47.166 --> 00:53:48.750
Are you happy
seeing your suggestion,

00:53:48.750 --> 00:53:51.917
this new Buffett Rule,
becoming more of a basis

00:53:51.917 --> 00:53:54.458
of a political
battle that really,

00:53:54.458 --> 00:53:55.875
that really has turned
into class warfare?

00:53:55.875 --> 00:53:58.458
Well, no, actually, there\'\'s
been class warfare going on

00:53:58.458 --> 00:54:00.583
for the last 20 years
and my class is one.

00:54:00.583 --> 00:54:04.125
It\'\'s not a tax on all
millionaires or ten millionaires

00:54:04.125 --> 00:54:05.583
or anything like that,
it\'\'s only a tax,

00:54:05.583 --> 00:54:09.583
it\'\'ll only be a minimum tax on
people who make lots of money

00:54:09.583 --> 00:54:11.458
and pay very low tax rates
at the same time.

00:54:11.458 --> 00:54:14.542
Anybody who\'\'s paying normal
tax rates, it wouldn\'\'t touch.

00:54:14.542 --> 00:54:17.999
So in aggregate, there\'\'s
probably 50,000 people

00:54:17.999 --> 00:54:19.041
in the whole United States

00:54:19.041 --> 00:54:20.834
out of 310 million
that it would affect.

00:54:20.834 --> 00:54:26.834
As Warren Buffett said,
there is always class warfare

00:54:26.834 --> 00:54:28.375
going on in any society.

00:54:28.375 --> 00:54:31.792
In the sense that there\'\'s
always going to be bargaining,

00:54:31.792 --> 00:54:37.333
power struggle about who--
how, you know, the economic pie

00:54:37.333 --> 00:54:39.625
is going to be distributed.

00:54:39.625 --> 00:54:44.959
So I think it\'\'s an important
lesson we have to remember.

00:54:44.959 --> 00:54:47.834
Class warfare always happens

00:54:47.834 --> 00:54:52.667
and the government decides,
you know, the rules of the game.

00:54:52.667 --> 00:54:58.875
So one thing we could do
is charge a transaction fee

00:54:58.875 --> 00:55:01.959
when trades take place
in our securities markets.

00:55:01.959 --> 00:55:07.709
We could also have government
itself issue new currency

00:55:07.709 --> 00:55:13.083
every year instead of the banks
issuing it for free basically,

00:55:13.083 --> 00:55:14.500
creating it out of thin air.

00:55:14.500 --> 00:55:18.458
The amount of rent in
our country keeps getting

00:55:18.458 --> 00:55:22.291
higher and higher, although
economists still haven\'\'t

00:55:22.291 --> 00:55:25.000
actually quantified it--
I find this shocking.

00:55:25.000 --> 00:55:29.917
But I think it could be as high
as a third of our economy

00:55:29.917 --> 00:55:34.625
is rent, which is money
that is needlessly extracted

00:55:34.625 --> 00:55:38.417
from everybody because
of the market power

00:55:38.417 --> 00:55:43.125
or political power
of large corporations.

00:55:43.125 --> 00:55:48.375
♪

00:55:48.375 --> 00:55:51.875
And rent seeking decreased
economic efficiency.

00:55:51.875 --> 00:55:55.500
A study in the 1980s
concluded that rent seeking

00:55:55.500 --> 00:55:59.375
had decreased total income
in the United States

00:55:59.375 --> 00:56:01.083
by 45 percent.

00:56:01.083 --> 00:56:03.667
♪

00:56:03.667 --> 00:56:07.000
Capitalism is a system
in which economic wealth,

00:56:07.000 --> 00:56:10.208
or capital, is used
to produce goods for sale.

00:56:10.208 --> 00:56:14.166
Or in other words,
to produce new wealth.

00:56:14.166 --> 00:56:15.291
♪

00:56:15.291 --> 00:56:19.500
I think that our national wealth
is very widely distributed.

00:56:19.500 --> 00:56:20.125
♪

00:56:20.125 --> 00:56:22.208
Thomas Piketty
and Emmanuel Saez

00:56:22.208 --> 00:56:24.709
concluded that much
of income inequality

00:56:24.709 --> 00:56:28.792
was the result of rent seeking
among the wealthy.

00:56:28.792 --> 00:56:30.041
♪

00:56:30.041 --> 00:56:32.083
How high could
a basic income have been

00:56:32.083 --> 00:56:36.667
if we had used that
45 percent to finance it?

00:56:36.667 --> 00:56:39.333
♪

00:56:39.333 --> 00:56:42.500
Would it have been
$5,000 a year?

00:56:42.500 --> 00:56:43.375
♪

00:56:43.375 --> 00:56:44.750
$10,000 a year?

00:56:44.750 --> 00:56:48.208
Or would it have
been $25,000 a year

00:56:48.208 --> 00:56:52.208
for each citizen
from cradle to grave?

00:56:52.208 --> 00:56:54.500
♪

00:56:54.500 --> 00:56:56.583
A basic income
could have been financed

00:56:56.583 --> 00:56:58.834
with a transaction fee
on all payments.

00:56:58.834 --> 00:57:01.625
On average,
the sum of total payments

00:57:01.625 --> 00:57:02.834
in your developed economies

00:57:02.834 --> 00:57:05.458
was 100 times larger
than total income.

00:57:05.458 --> 00:57:08.959
With a tax rate
of only .45 percent

00:57:08.959 --> 00:57:10.875
on each financial transaction,

00:57:10.875 --> 00:57:14.417
an unconditional
basic income of $25,000

00:57:14.417 --> 00:57:17.166
could have been paid
to each citizen.

00:57:17.166 --> 00:57:18.500
(applause)

00:57:18.500 --> 00:57:23.000
In my view, I would be in
favor of the high tax rates,

00:57:23.000 --> 00:57:26.625
you know, we had before
the Reagan revolution.

00:57:26.625 --> 00:57:31.583
Those high tax rates are not
bad for economic incentives

00:57:31.583 --> 00:57:33.750
because that\'\'s not
what drives, you know,

00:57:33.750 --> 00:57:37.041
the most talented
people to work hard,

00:57:37.041 --> 00:57:41.917
but they are useful to put
a lid, you know, on greed

00:57:41.917 --> 00:57:44.417
in the sense
with very high tax rates,

00:57:44.417 --> 00:57:48.166
upper earners don\'\'t have as many
incentives to keep extracting,

00:57:48.166 --> 00:57:52.792
you know, more and more
from the rest of the economy.

00:57:52.792 --> 00:57:56.125
♪

00:58:04.709 --> 00:58:07.917
Albert Wenger, a partner
with Union Square Ventures,

00:58:07.917 --> 00:58:11.500
graduated Summa Cum Laude
from Harvard in economics

00:58:11.500 --> 00:58:14.041
and computer science,
and got a PhD

00:58:14.041 --> 00:58:17.750
in information
technology from MIT.

00:58:32.166 --> 00:58:33.750
Just last year,

00:58:33.750 --> 00:58:35.917
total federal and state pending

00:58:35.917 --> 00:58:36.709
on means-tested programs

00:58:36.709 --> 00:58:40.375
came in at more than
one trillion dollars.

00:58:40.375 --> 00:58:43.875
How much is that
in practical terms?

00:58:43.875 --> 00:58:45.500
For that amount of money,

00:58:45.500 --> 00:58:48.750
you could give every
poor American a check

00:58:48.750 --> 00:58:51.333
for $22,000.

00:59:10.959 --> 00:59:14.875
In 2006, the Swiss
entrepreneur, Daniel Haääni,

00:59:14.875 --> 00:59:18.208
co-founded the Initiative
for a Basic Income,

00:59:18.208 --> 00:59:20.792
a movement to
promote a basic income

00:59:20.792 --> 00:59:23.458
in Switzerland and Germany.

00:59:54.041 --> 01:00:01.542
♪

01:00:12.542 --> 01:00:14.667
(applause)

01:00:18.166 --> 01:00:21.417
(applause)

01:00:51.458 --> 01:00:54.250
(coins clattering)

01:01:01.333 --> 01:01:04.792
(applause)

01:01:23.709 --> 01:01:27.375
Switzerland had a unique feature
that helped promote the idea

01:01:27.375 --> 01:01:30.500
of a unconditional basic income
among its citizens.

01:01:30.500 --> 01:01:33.875
The direct democracy system
enabled the Swiss people

01:01:33.875 --> 01:01:37.625
to vote directly on
all matters of public concern.

01:01:37.625 --> 01:01:41.166
It wasn\'\'t just a small elite
who discussed ideas

01:01:41.166 --> 01:01:44.083
like an unconditional
basic income,

01:01:44.083 --> 01:01:46.500
but the people as a whole.

01:02:02.041 --> 01:02:04.500
(applause)

01:02:09.000 --> 01:02:11.458
(applause)

01:03:12.625 --> 01:03:15.250
(applause)

01:03:30.417 --> 01:03:33.875
(applause)

01:05:35.500 --> 01:05:36.208
♪

01:05:36.208 --> 01:05:39.000
That very idea may soon become
a reality in Switzerland.

01:05:39.000 --> 01:05:42.333
That\'\'s exactly the proposal
up for vote in Switzerland.

01:05:42.333 --> 01:05:44.583
It\'\'s an idea that
has quietly migrated

01:05:44.583 --> 01:05:47.458
from Switzerland
to our own shores.

01:06:29.792 --> 01:06:37.750
♪

01:06:37.750 --> 01:06:39.375
(honking)

01:06:44.750 --> 01:06:47.417
There was a third contender
to be the first country

01:06:47.417 --> 01:06:51.625
to introduce an unconditional
basic income nationwide.

01:06:51.625 --> 01:06:53.792
At the beginning
of the 21st century,

01:06:53.792 --> 01:06:57.792
the state of Namibia had
the most unequal distribution

01:06:57.792 --> 01:06:59.375
of wealth
in the whole world.

01:06:59.375 --> 01:07:04.000
Just like Lyndon Johnson in
the United States in the 1960s,

01:07:04.000 --> 01:07:06.583
the Namibian government
set up a commission

01:07:06.583 --> 01:07:09.875
to come up with ideas
to eradicate poverty.

01:07:09.875 --> 01:07:11.291
And like the Johnson commission,

01:07:11.291 --> 01:07:16.083
the Namibian NAMTAX Consortium
recommended the implementation

01:07:16.083 --> 01:07:18.750
of an unconditional
basic income.

01:07:18.750 --> 01:07:23.542
The government took no further
action concerning the matter.

01:07:23.542 --> 01:07:24.542
But others did.

01:07:24.542 --> 01:07:27.667
In 2008, the Lutheran
bishop of Namibia,

01:07:27.667 --> 01:07:31.834
Zephania Kameeta, initiated
a basic income experiment

01:07:31.834 --> 01:07:35.458
in the village of Otjivero
as a pilot project.

01:07:35.458 --> 01:07:36.834
Namibia is a rich country

01:07:36.834 --> 01:07:39.458
and everybody
is acknowledging that.

01:07:39.458 --> 01:07:43.291
In 2015, the newly elected
Namibian president

01:07:43.291 --> 01:07:48.333
appointed Bishop Kameeta
Minister for Poverty Eradication

01:07:48.333 --> 01:07:49.750
and Social Welfare.

01:07:49.750 --> 01:07:56.959
So, let not only some
but all the Namibians benefit

01:07:56.959 --> 01:08:01.041
from the wealth
which is in this country.

01:08:01.041 --> 01:08:03.792
(truck zooming)

01:08:09.417 --> 01:08:12.875
(children playing)

01:08:53.667 --> 01:08:56.875
(bell ringing)

01:09:19.750 --> 01:09:23.083
(bell ringing)

01:11:13.250 --> 01:11:16.917
But years, we paid
to the Basic Income Grant.

01:11:16.917 --> 01:11:20.417
Showed very well that
the Basic Income Grant

01:11:20.417 --> 01:11:24.667
would change many
lives in Namibia

01:11:24.667 --> 01:11:30.125
and improve the living
condition of our people.

01:11:31.999 --> 01:11:35.667
I remember when we went
in 2007, they were scared

01:11:35.667 --> 01:11:39.125
to meet us because
they felt they were dirty,

01:11:39.125 --> 01:11:43.750
they were not clean,
and they were nothing.

01:11:43.750 --> 01:11:46.083
You have experienced
during your stay there

01:11:46.083 --> 01:11:48.458
that these people
can stand before crowds

01:11:48.458 --> 01:11:51.667
and say what
they want to say.

01:11:51.667 --> 01:11:56.417
So the idea of when
you give money to people,

01:11:56.417 --> 01:12:02.458
you make people lazy,
it\'\'s simply not true.

01:12:02.750 --> 01:12:05.917
Villagers like baker,
Katrina Africana,

01:12:05.917 --> 01:12:06.834
who moved to Otjivero

01:12:06.834 --> 01:12:09.291
only after the start
of the experiment,

01:12:09.291 --> 01:12:11.959
were not eligible for
the Basic Income Grant.

01:12:11.959 --> 01:12:15.999
But even so, she benefitted
because of Otjivero\'\'s

01:12:15.999 --> 01:12:17.458
increased purchasing power.

01:12:17.458 --> 01:12:20.208
Within the first year
of the experiment,

01:12:20.208 --> 01:12:22.709
employment rose
by 25 percent.

01:12:22.709 --> 01:12:24.250
The average income
in Otjivero,

01:12:24.250 --> 01:12:28.500
excluding the Basic Income
Grant, rose by one third.

01:12:28.500 --> 01:12:30.709
Including the
Basic Income Grant,

01:12:30.709 --> 01:12:33.083
the average income
almost doubled.

01:12:33.083 --> 01:12:35.125
Wages increased by 19 percent,

01:12:35.125 --> 01:12:40.000
and revenue from
self-employment quadrupled.

01:13:05.959 --> 01:13:07.625
(banging)

01:13:07.625 --> 01:13:09.834
(scraping)

01:13:25.999 --> 01:13:30.417
With the present government,
I\'\'ve got a lot of hope

01:13:30.417 --> 01:13:34.083
that the Basic Income Grant
will be implemented.

01:13:34.083 --> 01:13:39.875
The very fact that the present
president appointed me

01:13:39.875 --> 01:13:44.083
as a Minister for Poverty
and Education and Social Welfare

01:13:44.083 --> 01:13:48.041
says a lot and it give hopes.

01:13:48.041 --> 01:13:50.500
♪

01:13:50.500 --> 01:13:55.125
Come, let\'\'s travel
into the future.

01:13:55.875 --> 01:13:58.625
What will we see?

01:13:58.625 --> 01:14:01.667
♪

01:14:01.667 --> 01:14:03.458
In the next half century,

01:14:03.458 --> 01:14:07.166
people will see as well as hear
around the world.

01:14:07.166 --> 01:14:10.750
Pocket-sized radio instruments
will enable individuals

01:14:10.750 --> 01:14:14.583
to communicate
with anyone anywhere.

01:14:14.583 --> 01:14:19.834
Newspapers, magazines,
mail, and messages

01:14:19.834 --> 01:14:23.500
will be sent through the air
at lightning speed

01:14:23.500 --> 01:14:26.750
and reproduced in the home.

01:14:26.750 --> 01:14:35.417
♪

01:14:35.417 --> 01:14:39.750
All arguments for and all
remaining prejudices against

01:14:39.750 --> 01:14:41.542
an unconditional basic income

01:14:41.542 --> 01:14:43.375
increasingly lost
their relevance

01:14:43.375 --> 01:14:47.125
at the beginning
of the 21st century

01:14:47.125 --> 01:14:49.500
because this was
a time in human history

01:14:49.500 --> 01:14:52.667
that in its significance
is only comparable

01:14:52.667 --> 01:14:54.583
to the Neolithic Revolution.

01:14:54.583 --> 01:14:58.834
Some 10,000 years ago,
hunter-gatherers settled down,

01:14:58.834 --> 01:15:02.667
became farmers,
and invented private property.

01:15:02.667 --> 01:15:06.417
A paradise of abundance
ceased to exist.

01:15:06.417 --> 01:15:09.625
Now in the 21st century,
humanity had developed

01:15:09.625 --> 01:15:14.208
technologies so powerful
that they enabled the return

01:15:14.208 --> 01:15:15.834
of such a paradise.

01:15:15.834 --> 01:15:19.709
The work was done
by machines and robots.

01:15:19.709 --> 01:15:21.583
♪

01:15:21.583 --> 01:15:23.041
Two questions remained:

01:15:23.041 --> 01:15:27.208
Who owns the resources
and who owns the robots?

01:15:27.208 --> 01:15:28.959
IBM machines
can do the work.

01:15:28.959 --> 01:15:31.166
So that people
have time to think.

01:15:31.166 --> 01:15:33.333
That\'\'s what
they\'\'re best at.

01:15:33.333 --> 01:15:35.083
Machines should work.

01:15:35.083 --> 01:15:36.999
People should think.

01:15:36.999 --> 01:15:38.792
-Machines...
-...should work.

01:15:38.792 --> 01:15:39.999
-People...
-...should think.

01:15:39.999 --> 01:15:42.417
Machines should work,
people should think.

01:15:42.417 --> 01:15:48.166
The great problem that we not
only don\'\'t know how to solve,

01:15:48.166 --> 01:15:52.417
we don\'\'t even understand what
the problem will look like,

01:15:52.417 --> 01:15:58.792
is the replacement of human
beings by computers and robots,

01:15:58.792 --> 01:16:01.083
which is going to go on
on a huge scale,

01:16:01.083 --> 01:16:02.709
qualitatively
different from anything

01:16:02.709 --> 01:16:04.417
that\'\'s happened
previously in history.

01:16:04.417 --> 01:16:07.500
And we\'\'re not talking
about the elimination

01:16:07.500 --> 01:16:08.625
of certain low-scale jobs.

01:16:08.625 --> 01:16:12.999
We\'\'re talking about jobs
that are now white collar jobs

01:16:12.999 --> 01:16:15.166
requiring a college degree

01:16:15.166 --> 01:16:17.625
that computers are going
to be able to do better.

01:16:17.625 --> 01:16:19.917
There, Miss, you see,
the heterodynes are feeding back

01:16:19.917 --> 01:16:21.250
into the stimulus-reaction
activators

01:16:21.250 --> 01:16:23.667
causing non-synapse of the
motor-control resistor units.

01:16:23.667 --> 01:16:25.458
From now on,
I don\'\'t think there\'\'ll be

01:16:25.458 --> 01:16:27.583
the slightest trouble
with your robot.

01:16:27.583 --> 01:16:30.208
Every day in our
homes and offices,

01:16:30.208 --> 01:16:31.834
as well as in our motor cars,

01:16:31.834 --> 01:16:33.875
hundreds of these
little robots are doing

01:16:33.875 --> 01:16:35.792
more things for us
than we realize.

01:16:35.792 --> 01:16:38.500
Science fiction has
kind of conditioned us

01:16:38.500 --> 01:16:40.750
to think of robots
in certain ways.

01:16:40.750 --> 01:16:43.959
The idea of basic income
dawned on Marshall Brain

01:16:43.959 --> 01:16:45.750
as he was writing
about different ways

01:16:45.750 --> 01:16:48.959
to solve the problem of
robotics and automation

01:16:48.959 --> 01:16:49.999
taking away jobs.

01:16:49.999 --> 01:16:54.458
So R2-D2 is definitely
a robot to human beings

01:16:54.458 --> 01:16:57.291
and C-3PO is a humanoid robot,

01:16:57.291 --> 01:17:00.999
and that is how we sort
of intrinsically think

01:17:00.999 --> 01:17:03.834
about what a robot should look
like and what it should be.

01:17:03.834 --> 01:17:06.709
But robots are
currently around us

01:17:06.709 --> 01:17:07.999
in many different
forms already.

01:17:07.999 --> 01:17:13.417
So an ATM machine is
a robot that gives us money

01:17:13.417 --> 01:17:17.542
and, you know, helps us not have
to use a bank teller anymore.

01:17:17.542 --> 01:17:20.166
A automated gas pump
is a robot.

01:17:20.166 --> 01:17:24.375
A check-out line at a grocery
store, that\'\'s a robot.

01:18:03.375 --> 01:18:06.000
♪

01:18:06.000 --> 01:18:09.000
It didn\'\'t take long for
artificial intelligence

01:18:09.000 --> 01:18:13.959
to rival human beings
in every imaginable field.

01:18:13.959 --> 01:18:18.583
According to a study
at Oxford University in 2013,

01:18:18.583 --> 01:18:21.375
almost 47 percent
of all jobs

01:18:21.375 --> 01:18:24.375
were under threat
of being automated.

01:18:24.375 --> 01:18:26.625
♪

01:18:26.625 --> 01:18:28.875
Within the following
twenty years,

01:18:28.875 --> 01:18:31.667
those jobs were indeed gone.

01:18:31.667 --> 01:18:34.000
♪

01:18:34.000 --> 01:18:37.125
Humans have always
underestimated the power

01:18:37.125 --> 01:18:38.291
of exponential growth,

01:18:38.291 --> 01:18:40.417
and at the beginning
of the 21st century,

01:18:40.417 --> 01:18:45.291
information technology started
to evolve exponentially.

01:18:45.291 --> 01:18:46.500
A little over
three years ago,

01:18:46.500 --> 01:18:49.333
the folks at IBM came
to us with a proposal

01:18:49.333 --> 01:18:50.583
that they considered to be

01:18:50.583 --> 01:18:53.125
the next grand challenge
in computing.

01:18:53.125 --> 01:18:56.792
Ladies and gentlemen,
this is Watson.

01:18:56.792 --> 01:18:59.667
(applause)

01:19:00.125 --> 01:19:02.834
Computers will
never play Jeopardy!

01:19:02.834 --> 01:19:03.875
You have to know too much,

01:19:03.875 --> 01:19:06.333
the questions
are all convoluted.

01:19:06.333 --> 01:19:08.417
You have to get to
the buzzer really fast.

01:19:08.417 --> 01:19:10.875
You have to be able to know
a lot of the nuances

01:19:10.875 --> 01:19:13.750
of the English language
and idioms and all this stuff.

01:19:13.750 --> 01:19:17.875
All right, enough background,
let\'\'s play Jeopardy!

01:19:17.875 --> 01:19:20.583
So if you\'\'re ready,
make your first choice.

01:19:20.583 --> 01:19:22.291
Olympic oddities for $400.

01:19:22.291 --> 01:19:27.000
It just seemed impossible,
and then one day IBM announced

01:19:27.000 --> 01:19:28.999
that it had started
the research

01:19:28.999 --> 01:19:31.041
to build a Jeopardy!
playing computer,

01:19:31.041 --> 01:19:33.250
and then just
a couple years later,

01:19:33.250 --> 01:19:35.667
a computer beat
the best human players.

01:19:35.667 --> 01:19:40.208
Not by a little bit,
but just totally decimated them.

01:19:44.458 --> 01:19:45.458
-Watson.
-What is stick?

01:19:45.458 --> 01:19:48.750
Stick is right, and with that
you add to your lead,

01:19:48.750 --> 01:19:50.834
you\'\'re at $5,200,

01:19:50.834 --> 01:19:52.208
Brad is next with $1,000,

01:19:52.208 --> 01:19:53.166
Ken on the board with $200,

01:19:53.166 --> 01:19:56.792
and we are going
to take this break.

01:20:07.750 --> 01:20:09.333
And off we go.

01:20:09.333 --> 01:20:09.959
(beeping)

01:20:09.959 --> 01:20:15.000
Palos Verdes High School\'\'s
dune buggy left turn.

01:20:37.625 --> 01:20:39.709
Good try, guys.

01:20:51.875 --> 01:21:02.083
♪

01:21:10.333 --> 01:21:13.166
When do you think will be
the time when we don\'\'t need

01:21:13.166 --> 01:21:15.125
taxi drivers anymore
in New York?

01:21:15.125 --> 01:21:19.000
The minute the software
is available.

01:21:19.458 --> 01:21:21.250
I think the car is ready.

01:21:21.250 --> 01:21:22.959
I think it\'\'s the future.

01:21:22.959 --> 01:21:25.917
They will make it work.

01:21:25.917 --> 01:21:29.000
They have to,
it\'\'s inevitable.

01:21:29.208 --> 01:21:33.041
It speaks 80 languages,
that\'\'s fabulous.

01:21:33.041 --> 01:21:35.417
What will
the taxi drivers do then?

01:21:35.417 --> 01:21:39.583
This is a city where people
are very resilient.

01:21:39.583 --> 01:21:41.792
Every time they close
a window or a door,

01:21:41.792 --> 01:21:43.875
there\'\'s something else
that opens up.

01:21:43.875 --> 01:21:46.500
Maybe the roof
will blow open.

01:21:48.959 --> 01:21:50.917
Green.

01:22:39.125 --> 01:22:42.959
Truck drivers and cab drivers
and FedEx drivers,

01:22:42.959 --> 01:22:44.166
those kind of folks,

01:22:44.166 --> 01:22:46.250
that\'\'s maybe
three million people.

01:22:46.250 --> 01:22:49.375
Those are gonna be
early jobs that are lost.

01:22:49.375 --> 01:22:52.667
It\'\'s easy to imagine
a lot of construction jobs,

01:22:52.667 --> 01:22:54.583
especially as vision
systems come online.

01:22:54.583 --> 01:22:59.125
And then you can imagine
robotic roofers and, you know,

01:22:59.125 --> 01:23:01.166
brick layers
and things like that

01:23:01.166 --> 01:23:03.917
happening
in the near future.

01:23:03.917 --> 01:23:05.417
Those are not...

01:23:05.417 --> 01:23:07.999
intellectually challenging jobs,
they just aren\'\'t.

01:23:07.999 --> 01:23:10.125
So we\'\'ll see a lot
of automation there,

01:23:10.125 --> 01:23:13.959
but surprisingly at
the intellectual level,

01:23:13.959 --> 01:23:18.208
technologies like Watson
have huge applicability

01:23:18.208 --> 01:23:21.709
in areas like
the law and medicine

01:23:21.709 --> 01:23:23.834
and accounting
analysis and so on,

01:23:23.834 --> 01:23:25.625
so you\'\'ll see
automation happening

01:23:25.625 --> 01:23:29.166
in those areas as well
and taking out high-end jobs

01:23:29.166 --> 01:23:30.709
that we might not expect

01:23:30.709 --> 01:23:33.417
because it turns out
they\'\'re easy to solve

01:23:33.417 --> 01:23:36.041
with technology like Watson.

01:23:36.041 --> 01:23:46.291
♪

01:23:57.750 --> 01:24:00.625
Technology is
and always has been a tool.

01:24:00.625 --> 01:24:03.542
We have more powerful tools
now than ever before,

01:24:03.542 --> 01:24:06.166
which means we have
more power to determine

01:24:06.166 --> 01:24:07.208
what our future
is going to be.

01:24:07.208 --> 01:24:09.959
We should never forget that,
that ultimately the choice

01:24:09.959 --> 01:24:12.291
is in our hands
and it\'\'s gonna be the choice

01:24:12.291 --> 01:24:15.291
of the politicians
and the people who elect them,

01:24:15.291 --> 01:24:16.834
and the people
who influence them--

01:24:16.834 --> 01:24:19.166
many of them
at Davos this week.

01:24:19.166 --> 01:24:21.875
So let\'\'s just remember that
ultimately it\'\'s our choice

01:24:21.875 --> 01:24:23.709
and not something that
happens to us externally.

01:24:23.709 --> 01:24:28.417
So you\'\'re saying we can
detach our work and income?

01:24:28.417 --> 01:24:31.458
That could be
a possibility, yeah.

01:24:31.458 --> 01:24:32.083
Really?

01:24:32.083 --> 01:24:34.500
That\'\'s a new,
that\'\'s a new paradise.

01:24:34.500 --> 01:24:36.834
Yeah, in the sense
that you don\'\'t have to--

01:24:36.834 --> 01:24:40.000
you don\'\'t have to work
to get a basic income,

01:24:40.000 --> 01:24:41.458
so that\'\'s one of the ideas.

01:24:41.458 --> 01:24:44.875
And you\'\'ll work
because you like work,

01:24:44.875 --> 01:24:48.792
not because it\'\'s
a necessity to earn a living.

01:24:50.875 --> 01:24:54.834
Would you have done anything
differently in your life

01:24:54.834 --> 01:24:58.458
if money weren\'\'t an issue?

01:24:59.417 --> 01:25:02.625
I would have liked
to be a senator.

01:25:02.625 --> 01:25:06.917
Yes...an honest
senator for a change.

01:25:06.917 --> 01:25:09.500
I would have, yes.

01:25:09.500 --> 01:25:11.959
I would love to help people,

01:25:11.959 --> 01:25:15.667
listen to their daily hardships

01:25:15.667 --> 01:25:17.542
and make it better.

01:25:17.542 --> 01:25:20.500
(traffic noises)

01:26:22.125 --> 01:26:24.667
It\'\'s a kind of
a market-based approach

01:26:24.667 --> 01:26:27.792
to giving everybody
some non-labor income,

01:26:27.792 --> 01:26:30.917
make everybody
a genuine owner of wealth

01:26:30.917 --> 01:26:34.667
that sort of morally
belongs to everybody,

01:26:34.667 --> 01:26:35.999
but not yet legally.

01:26:35.999 --> 01:26:38.999
So I\'\'m saying let\'\'s
legalize common wealth.

01:26:38.999 --> 01:26:41.709
We all could go on
perpetual vacation.

01:26:41.709 --> 01:26:44.583
If you think about it,
if robots are doing all the work

01:26:44.583 --> 01:26:45.709
and producing
all the products

01:26:45.709 --> 01:26:48.500
and doing everything
the economy needs,

01:26:48.500 --> 01:26:54.208
then humans necessarily are free
to do whatever they want.

01:26:54.542 --> 01:26:55.917
What will I do?

01:26:55.917 --> 01:26:57.709
I want to live.

01:26:58.250 --> 01:27:00.458
This is the 24th century.

01:27:00.458 --> 01:27:03.417
Material needs
no longer exist.

01:27:05.000 --> 01:27:07.625
Then what\'\'s the challenge?

01:27:08.625 --> 01:27:13.125
The challenge, Mr. Offenhouse,
is to improve yourself.

01:27:13.125 --> 01:27:15.834
To enrich yourself.

01:27:16.500 --> 01:27:18.125
Enjoy it.

01:27:18.291 --> 01:27:20.709
And don\'\'t worry,
you don\'\'t have to wait

01:27:20.709 --> 01:27:22.667
300 years for this to happen.

01:27:22.667 --> 01:27:25.208
The future is already there.

01:27:25.208 --> 01:27:34.041
♪

01:27:34.041 --> 01:27:42.083
♪ As I was walking,
now, they tried to stop me ♪

01:27:42.083 --> 01:27:43.000
♪

01:27:43.000 --> 01:27:47.000
♪ They put up
a sign that said ♪

01:27:47.000 --> 01:27:51.375
♪ Oh, it said
private property ♪

01:27:51.375 --> 01:27:52.709
♪

01:27:52.709 --> 01:27:56.792
♪ Well, on the back side,

01:27:56.792 --> 01:28:01.750
you know it said nothing ♪

01:28:01.750 --> 01:28:06.166
♪ So, it must be that side

01:28:06.166 --> 01:28:09.375
was made for you and me ♪

01:28:09.375 --> 01:28:19.625
♪

01:28:25.542 --> 01:28:29.500
♪ One bright sunny morning,

01:28:29.500 --> 01:28:34.583
well, in the shadow
of a steeple ♪

01:28:34.583 --> 01:28:39.417
♪ Down by the
welfare office,

01:28:39.417 --> 01:28:43.417
I saw my people ♪

01:28:43.417 --> 01:28:48.709
♪ You know, now,
they stood hungry ♪

01:28:48.709 --> 01:28:53.166
♪ I stood wondering ♪

01:28:53.166 --> 01:28:57.959
♪ I was wondering if this land

01:28:57.959 --> 01:29:03.500
was made for you and me ♪

01:29:03.500 --> 01:29:06.083
♪ This land is your land ♪

01:29:06.083 --> 01:29:08.583
♪

01:29:08.583 --> 01:29:12.542
♪ This land is my land ♪

01:29:12.542 --> 01:29:16.625
♪ From Riverside, California ♪

01:29:16.625 --> 01:29:20.834
♪ Oh, to Staten Island ♪

01:29:20.834 --> 01:29:25.166
♪ Well, on down
to Augusta, Georgia ♪

01:29:25.166 --> 01:29:29.291
♪ Oh, don\'\'t forget
to say Philadelphia ♪

01:29:29.291 --> 01:29:34.041
♪ Oh, we moving on
down to Mississippi ♪

01:29:34.041 --> 01:29:36.875
♪ Oh, Houston, Texas ♪

01:29:36.875 --> 01:29:40.417
♪ L.A., yeah, you know,

01:29:40.417 --> 01:29:43.999
this land is your land ♪

01:29:43.999 --> 01:29:48.375
♪ Ah, this land is my land ♪

01:29:48.375 --> 01:29:51.375
♪ Oh, this land
is your land ♪

01:29:51.375 --> 01:29:56.959
♪ You\'\'ve got to believe,
oh, it\'\'s my land ♪

01:29:56.959 --> 01:30:01.125
♪ Ah, hmmm ♪

01:30:01.125 --> 01:30:06.333
♪ Ooh, this land was made
for you and me, yeah ♪

01:30:06.625 --> 01:30:10.583
♪ Oh, this land was made
for you and me ♪

01:30:10.583 --> 01:30:14.625
♪ Ah, this land,
this land is your land ♪

01:30:14.625 --> 01:30:20.500
♪ Ah, this land,
this land is my land ♪