DB FPX 8410 Assessment 5 The Future of Work Universal Basic Income, Guaranteed Federal Job, and Reduced Work Week
A universal basic income is where the government pays each citizen a set amount of money per month. The idea behind this concept is to put most citizens on an equal playing field in terms of income. A pro of this concept is a reduction of the stigma that surrounds government benefits such as food assistance and welfare (Gaille, 2019). If there are parameters around who qualifies for the payments, it would encourage people to still work while getting the payment (Gaille, 2019).
Currently, many Americans are forced to barely make it while they work or quit work and utilize government assistance, which makes it easier for them to survive. This concept could negatively affect employment, as some people may take advantage and decide not to work at all (Gaille, 2019). It would not fully solve financial inequality, as significant disparities would still exist. The concept could contribute to the government’s debt (Gaille, 2019).
The guaranteed federal job concept considers having a job a fundamental right (Congressional Research Service, 2022).
DB FPX 8410 Assessment 5 The Future of Work
This concept is based on Franklin D. Roosevelt’s Economic Bill of Rights (Congressional Research Service, 2022). A pro of this concept is it would eliminate unemployment. A potential con is the government would incur more debt, and the competition between the public and private sectors for workers could become an issue (Congressional Research Service, 2022).
A reduced work week is when companies reduce their employees’ schedules while still paying them for the full week. One potential benefit is increased employee productivity (Prater, 2023). Another benefit is employees will experience less burnout and have better work-life balance (Prater, 2023). The downside of this concept is the inability for many businesses to implement it and still meet their business needs (Prater, 2023).
Conclusion
Many trends indicate a significant shift in the workforce and the type of work people will be doing. Technology has created an increase in remote work, changing the social aspect of the workforce. Automation will continue to require companies to have employees to maintain the robots and AI. While there will be some job loss due to robots and AI, many companies are already struggling to fill low-wage positions, so the loss will not significantly impact people who would otherwise be working. While the future of the workforce looks different, the changes have the potential to create positive impacts.
References
Anch, A. (2019). “Advantages and Disadvantages of Artificial Intelligence.” Medium.
Barden, J. (2022). “Robots: How Companies Save Money on Their Workforce.” Investopedia.
Congressional Research Service. (2022). “Guaranteed Federal Jobs.” crsreports.congress.gov.
Flynn, A. (2022). “Remote Work Statistics.” Flexjobs.
Gaille, B. (2019). “19 Advantages and Disadvantages of Universal Basic Income.” futureofworking.com.
Lee, J. (2021). “More Robots, Fewer Workers: Pandemic Accelerates Labor-Force Automation.” Wall Street Journal.