Part 7/11:
Both agree that regulation should favor adaptation over restriction. Martin argues against outright bans on automation, emphasizing investing in education and social safety nets like Universal Basic Income (UBI) or guaranteed minimum income. Betsy advocates for reforming the tax system, such as reducing taxes on labor and increasing taxes on capital, to incentivize employment and mitigate displacement.
The idea of a robot tax—a levy's on companies replacing human workers with AI—was discussed. Both experts acknowledge the difficulty in defining and implementing such a tax, cautioning that it might stifle innovation and competitiveness, especially if it curtails the development of AI technology.