meta_pixel
Tapesearch Logo
Log in
The Next Big Idea

FREE MONEY: Why Andrew Yang Thinks a Giveaway Can Save the Economy

The Next Big Idea

Next Big Idea Club

Education, Social Sciences, Science, Society & Culture

4.41.3K Ratings

🗓️ 21 January 2020

⏱️ 45 minutes

🧾️ Download transcript

Summary

Andrew Yang has a pretty bleak vision for the future. The way he sees it, we’re staring down the barrel of a techno-apocalypse. Robots will replace millions of workers. Income inequality will skyrocket. And social isolation will become the new normal. But Yang has a big idea he thinks can stave off disaster. It’s called universal basic income—a $1,000 check in the mail each month, no strings attached. Yang’s been pushing this magic bullet for a long time, first in his book, “The War on Normal People,” and now as he campaigns for president. But would it really make a difference? And is it even realistic? Andrew Yang makes his case to Rufus Griscom in front of a live audience in New York.

Transcript

Click on a timestamp to play from that location

0:00.0

In the early 1400s being a scribe is a prestigious job.

0:15.0

Highly skilled monks work in a special room called a scriptorium

0:19.0

where they spend their days copying religious texts.

0:22.0

But in 1440 the German blacksmith and inventor

0:26.2

Johannes Gutenberg invents the printing press. Some of the monks lose their jobs

0:31.6

but others corner the market on high-end books.

0:35.0

And all sorts of new jobs are created as print shops open and more books are sold.

0:40.0

It's a similar story in 1785 after the Englishman Edmund Cartwright invented the mechanical

0:46.8

loom. It's bad news for hand weavers at least at first, but by 1850 there are 260,000 power looms in England and people are

0:56.0

needed to build them, operate them, and repair them.

1:02.0

In the American folk song The Ballad of John Henry, a 19th century railroad worker claims he can drive spikes faster than a newly invented mechanical steam drill.

1:11.0

Henry goes head to head against the machine and he wins. But the effort

1:16.2

kills him and the steam drill goes on to power the expansion of the railroads which

1:20.6

spawn new towns and businesses where people like John Henry, for the most part find work.

1:26.0

In 1892, an inventor in Iowa named John Frock tests the first gasoline-powered tractor.

1:34.1

At the time, about 40% of Americans are farmers.

1:37.0

100 years later, less than 2% are,

1:40.3

and machines handle most of the work.

1:43.0

In the 1980s, word processors replace typists.

1:48.0

About the same time, robots start taking their place on assembly lines,

1:52.0

elbowing out welders in automobile plants in Detroit.

1:55.0

In the 1990s, Amazon replaces booksellers across America.

...

Please login to see the full transcript.

Disclaimer: The podcast and artwork embedded on this page are from Next Big Idea Club, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Next Big Idea Club and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.

Copyright © Tapesearch 2026.