JRE #1245 – Andrew Yang

This podcast delves into the political philosophy of Andrew Yang, a 2020 Democratic presidential candidate who advocates for Universal Basic Income (UBI) as a solution to automation’s impact on the economy. Yang presents a compelling argument for UBI, drawing upon data, economic trends, and historical parallels to make his case. The discussion raises provocative questions about the future of work, the changing nature of the American workforce, and the role of government in a rapidly evolving economy.

Underlying themes explore the potential consequences of unfettered automation, the anxieties of the displaced workforce, and the need for a more compassionate and equitable economic system. The podcast sparks deeper reflection on the relationship between technology, society, and individual well-being, challenging listeners to consider alternative solutions for navigating the complexities of the 21st-century economy.

Major Topics:

1. The Rise of Automation and Job Displacement:

• Yang argues that automation is already displacing millions of jobs, particularly those held by unskilled men, and this trend is expected to accelerate in the coming decade.
• He highlights the historical parallels between the current automation wave and the Industrial Revolution, noting the potential for unrest and social upheaval.
• Yang cites statistics from major institutions like Bain, McKinsey, and the Obama White House, emphasizing the consensus around the scale and speed of automation.
• He uses the example of truck drivers, a critical industry facing imminent automation, to illustrate the potential economic and social consequences of job displacement.

2. The Case for Universal Basic Income (UBI):

• Yang advocates for a guaranteed monthly payment of $1,000 per adult as a form of economic security in a world where traditional jobs are becoming increasingly scarce.
• He highlights the historical precedents for UBI, citing Thomas Paine, Martin Luther King Jr., and Milton Friedman as supporters of the concept.
• Yang argues that UBI would mitigate the negative effects of automation by providing a safety net for displaced workers and stimulating economic growth through increased consumer spending.
• He emphasizes the affordability of UBI, arguing that it can be funded through a combination of existing welfare programs, a value-added tax on corporations, and savings from reduced incarceration and healthcare costs.

3. The Psychological Impact of Automation and Joblessness:

• Yang discusses the detrimental effects of joblessness, particularly on men, including increased substance abuse, decreased social engagement, and a decline in mental health.
• He cites studies that show a reduction in functional IQ when individuals are struggling to make ends meet, highlighting the mental strain and cognitive limitations associated with economic insecurity.
• Yang argues that UBI could alleviate these psychological burdens by reducing financial stress and fostering a sense of security, potentially contributing to a more rational and less divisive society.
• He emphasizes the need to address the underlying issue of meaninglessness, as automation disrupts traditional notions of work and purpose.

4. The Need for a New Economic Paradigm:

• Yang criticizes the reliance on GDP as a measure of economic well-being, arguing that it fails to capture the value of non-market activities and the broader societal consequences of automation.
• He advocates for alternative metrics that prioritize health, happiness, and societal well-being, suggesting that these factors should become central to policy decisions.
• Yang believes that UBI is a necessary but not sufficient step toward a more equitable and sustainable economy, emphasizing the need for broader societal reforms to address the challenges of automation.
• He calls for a shift in focus from viewing individuals as economic inputs to valuing their broader contributions to society.

5. The Role of Government in the Automation Era:

• Yang argues that the government has a crucial role to play in managing the transition to an automated economy and mitigating its negative impacts.
• He criticizes the current political climate, where there is a lack of appetite for addressing automation’s challenges, and highlights the need for bold and proactive policies.
• Yang proposes a “trucker transitions program” to help the trucking industry adapt to automation and support displaced workers, demonstrating his commitment to targeted solutions.
• He advocates for increased investment in education, particularly vocational training, to equip future generations with skills relevant to the evolving job market.

6. The Political Landscape and Yang’s Candidacy:

• Yang discusses the dynamics of the 2020 presidential election, highlighting the “anyone but Trump” sentiment among Democrats and the need to address the economic anxieties driving support for Trump among working-class voters.
• He acknowledges that his candidacy is unconventional, given his focus on UBI, but believes that his message resonates with voters across the political spectrum.
• Yang emphasizes the importance of campaigning on a platform of solutions rather than solely focusing on opposition to the incumbent.
• He expresses confidence in his ability to reach a broad audience and make a significant impact on the political landscape.

7. Addressing Immigration and Marijuana Legalization:

• Yang advocates for a pathway to citizenship for undocumented immigrants, arguing that it is both humane and economically beneficial.
• He emphasizes the contributions of immigrants to the American economy and culture, highlighting the importance of a welcoming and inclusive immigration policy.
• Yang supports full marijuana legalization and the release of all nonviolent drug offenders, arguing that the current drug laws are unjust and counterproductive.
• He advocates for a more compassionate approach to drug policy, recognizing the need for treatment and rehabilitation for those struggling with addiction.

8. Campaign Finance Reform and the Power of Democracy Dollars:

• Yang expresses concern about the influence of corporate money in politics and the resulting erosion of democratic principles.
• He proposes a system of “democracy dollars” to empower individual voters by providing them with a direct stake in political campaigns.
• Yang believes that this would level the playing field and counterbalance the influence of wealthy donors, restoring power to ordinary citizens.
• He emphasizes the importance of making it easy for people to donate to campaigns, highlighting the role of online platforms in facilitating political participation.

9. The Future of Democracy and Information Warfare:

• Yang acknowledges the threat posed by foreign interference in elections, particularly from Russia, and the increasing challenge of combating misinformation.
• He proposes a strong and assertive response to Russian interference, threatening retaliation for any future attempts to disrupt American democracy.
• Yang emphasizes the need for proactive measures to protect the integrity of elections and ensure that voters have access to accurate and reliable information.
• He highlights the importance of supporting local journalism and finding new models for disseminating quality news and information to a broader audience.

Memorable Quotes:

• “If the United States economy is like an elephant, you know, the parable of like the people, like, you know, blind people touching the elephant…I’ve actually seen the elephant, if you know what I mean. I’ve been in the belly of the beast.”
• “If you’re a clueless ambitious 22 year old who came out of college. And you say to your parents, hey, I’m gonna go to law school. They’re gonna say, that’s great. It’s really easy to find the law school because it’s there. Just apply to it. And the government will give you a hundred thousand dollar loan. No questions asked. And then if you say to your parents, hey, I wanna be an entrepreneur, your parents will think that’s stupid.”
• “I’m an operator. I’m an entrepreneur. And so you get to, like, okay, what does it take to be president? So there are 2 rules to run for president. 1 is you have to be 35 years or older, check, and then the second is natural born citizen, check. Only rules. That’s it.”
• “If I’m president, people will see that you come to this country and you work hard, your son or daughter can become president of the United States.”
• “The alternative [to UBI] is too terrible to contemplate.”