- Elon Musk envisions AI and robotics creating enough wealth for everyone to have luxury living.
- Musk proposes Universal High Income via federal checks to offset AI-driven job losses.
- He argues AI output will exceed money supply growth, preventing inflation despite more wealth.
Elon Musk believes in a world where "everyone can have a penthouse if they want". He said that the combination of AI and robotics could create so much economic output that everyone can lead a comfortable life.
In a post last week, Musk mentioned "Universal High Income", which is his proposal for federal government checks to offset AI-driven job losses.
"Universal HIGH INCOME via checks issued by the Federal government is the best way to deal with unemployment caused by AI," he wrote. "AI/robotics will produce goods & services far in excess of the increase in the money supply, so there will not be inflation."
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But an X user @Not_the_Bee pushed back, asking how luxury goods would be allocated in an economy where money is plentiful.
"If everybody has a billion dollars, nobody really does. If money means nothing, what determines who gets the penthouse suite?"
The Tesla and SpaceX CEO took note of the post and replied directly. He said, "Actually, AI/Robotics will mean everyone can have a penthouse if they want. The output of goods & services will be several orders of magnitude higher than today's economy."
He further added that Iain Banks' Culture novels offer "the best imagining of how it will be".
"That said, what is the future you want? Amazing abundance seems the best to me," Musk concluded.
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Social Media Reaction
Musk's post reached over 3 million users, and thousands commented on it, sharing their point of view. "Scarcity must exist for abundance to have meaning; you only recognise abundance by comparing it to scarcity," one user wrote in the comment section.
"I think the future most humans want is to live in whichever manner they choose w/out govt or others forcing their bs upon the public, trying to fit everyone into the same box. If jobs are gone + working for money becomes scarce, how long before the UHI is used to control us?" another user wrote.
"Everyone else would then suddenly be the mercy of those who control the technology (AI/robotics). Power will be owning AI/Robotics technology," a third added.
Warning over AI growth
Musk has previously distinguished "Universal High Income" from "Universal Basic Income". He argues that if AI creates vast wealth, government checks shouldn't just cover basics.
Meanwhile, as reported by Fortune, Economist Joseph Stiglitz warned last month that "if we don't do anything about managing AI, there is a threat that it will lead to more inequality," and that government capacity matters for the transition.
