Michael Strobaek, Global Chief Investment Officer (CIO) of Switzerland’s second largest bank Credit Suisse (CS), is interviewed in the December 2017 issue of CS’s “Bulletin“, dedicated to questions around aging. According to Strobaek, it will be crucial to secure the livelihood of the millions of people who will be unemployed through technological development, automation and robotization, and that this has to be done through some sort of unconditional basic income (UBI). Although Strobaek has not provided any specifics about UBI, he is clear that it is required by future unemployment. This future unemployment, however has not been proven as a fact. Despite often cited reports, there is still no proven link between automation and net job loss, since these reports focus on job destruction, not job creation. For an alternative view, that finds that new technology will create new jobs as well as destroying old ones, see Ursula Huws’ article.
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