GOOD MORNING.
I’M ADAM SEXTON.
IT IS A POLICY IDEA THAT PERKS YOUR EARS UP, UNIVERSAL BASIC INCOME.
WHILE SOME VIEW THAT CONCEPT AS ANTITHETICAL TO THE AMERICAN ECONOMIC SYSTEM, PRESIDENTIAL CANDIDATE ANDREW YANG SAYS IT WILL BE ABSOLUTELY NECESSARY TO SAVE THE ECONOMY FOR REGULAR
PEOPLE AS AUTOMATION AND ARTIFICIAL INTELLIGENCE TAKE OVER.
MR. YANG IS OUR GUEST THIS MORNING.
THANKS FOR JOINING US.
>> IT IS GREAT TO BE HERE.
THANK YOU FOR HAVING ME.
ADAM: BEFORE WE JUMP INTO THIS DISCUSSION, TELL US A BIT ABOUT YOURSELF AND YOUR BUSINESS BACKGROUND AND WHY YOU’RE RUNNING FOR PRESIDENT.
>> I AM A SERIAL ENTREPRENEUR.
I STARTED WITH VENTURE AMERICA THAT HELPED START THOUSANDS OF BUSINESSES ACROSS THE COUNTRY.
WHILE I WAS DOING THAT WORK, I REALIZED WE HAD AUTOMATED AWAY 4 MILLION MANUFACTURING JOBS THROUGHOUT THE MIDWEST AND THE SOUTH, WHICH IN MY MIND LED DIRECTLY TO DONALD TRUMP WINNING
THE ELECTION IN 2016.
MY FRIENDS IN SILICON VALLEY KNOW WE ARE ABOUT TO DO THE SAME THING TO MILLIONS OF RETAIL CENTER JOBS, CALL-CENTER JOBS, AND TRUCK DRIVING JOBS THROUGHOUT THE ECONOMY.
ADAM: IN YOUR BOOK, YOU START WITH A QUOTE FROM STEPHEN HAWKING THE CAUGHT MY EYE.
" “WE ARE AT THE MOST DANGEROUS MOMENT IN THE DEVELOPMENT OF HUMANITY BECAUSE OF THE RISE OF ARTIFICIAL INTELLIGENCE AND AUTOMATION."
HOW DO YOU EXPLAIN THAT ECONOMIC THREAT TO SOMEONE ON ELM STREET HERE IN MANCHESTER?
>> TOO FAR OUT, I TOTALLY GET IT.
I WENT TO HIGH SCHOOL HERE.
TO THE PEOPLE OF NEW HAMPSHIRE, I WOULD ASK THIS, HAVE YOU NOTICED MAIN STREET BUSINESSES CLOSING?
THE REASON MAIN STREET STORES ARE CLOSING IS AMAZON IS SUCKING UP AN ADDITIONAL $20 BILLION IN COMMERCE EVERY YEAR.
A LOT OF THAT FROM MAIN STREET BUSINESSES.
AND IT IS PUSHING 30% OF U.S.
MALLS AND MAIN STREET STORES INTO CLOSING.
IT IS NOT LIKE ROBOTS WALKING THE STREET IN NEW HAMPSHIRE, BUT I GUARANTEE IF YOU GO TO AMAZON FULFILLMENT WAREHOUSE YOU WILL SEE THE ROBOTS.
THAT IS IMPACTING PEOPLE IN NEW HAMPSHIRE RIGHT NOW.
THE RUBBER WILL REALLY HIT THE ROAD WITH CARS AND TRUCKS START BECOMING AUTONOMOUS IN THE NEXT SEVERAL YEARS.
ADAM: HOW DOES A UNIVERSAL BASIC INCOME FIT INTO THIS TEMPLATE TO SOLVE THE PROBLEM?
>> WHAT IS GREAT ABOUT THE UNIVERSAL BASIC INCOME, OR THE FREEDOM DIVIDEND, IT WOULD CHANNEL ABOUT $8 BILLION IN NEW BUYING POWER INTO THE HANDS OF NEW HAMPSHIRE MOMS, DADS, REALLY
ANY ADULT WOULD HAVE $1000.
THAT WOULD CHANNEL ALL THIS MONEY THAT WOULD GO BACK INTO THE MAIN STREET ECONOMY IN NEW HAMPSHIRE.
IT WOULD GO TO CAR REPAIRS, THE OCCASIONAL NIGHT OUT, TUTORING, FOOD FOR YOUR KIDS, HOME REPAIRS YOU HAVE BEEN PUTTING OFF.
ALL OF THAT MONEY WOULD STAY IN NEW HAMPSHIRE.
IT WOULD CREATE ABOUT 15,000 NEW JOBS RIGHT HERE.
THAT IS WHAT YOU NEED.
RIGHT NOW, THOSE JOBS ARE GETTING SUCKED INTO THE CLOUD BY AMAZON AND EVENTUALLY BY THE SELF DRIVING CARS AND TRUCKS COMING TO OUR HIGHWAYS SOON.
ADAM: ARE THERE ANY OTHER COUNTRIES THAT HAVE DONE THIS WITH ANY MEASURE OF SUCCESS?
FINLAND EXPERIMENTED WITH IT BUT IT DID NOT SOUND LIKE THEY FIGURED IT OUT.
HAS ANYONE PROVEN THIS WORKS?
>> YOU DON’T EVEN HAVE TO LOOK ABROAD.
WEDNESDAY HAS HAD A DIVIDEND IN EFFECT FOR 36 YEARS -- ONE STATE HAS HAD A DIVIDEND IN EFFECT FOR 36 YEARS.
IT IS WILDLY POPULAR.
IT HAS CREATED THOUSANDS OF JOBS.
AND IT IMPROVES CHILDREN’S HEALTH.
THAT STATE’S ALASKA WHERE THEY HAVE HAD AN OIL DIVIDEND IN A DEEPLY CONSERVATIVE STATE SINCE THE EARLY 1980’S.
I SAY TO PEOPLE, WHAT IS THE OIL OF THE 21ST CENTURY?
IF YOU REFLECT, YOU REALIZE THE OIL OF THE 21ST CENTURY IS TECHNOLOGY, SOFTWARE, ARTIFICIAL INTELLIGENCE, SELF-DRIVING CARS AND TRUCKS.
ADAM: DO YOU WORRY ABOUT FOSTERING GOVERNMENT DEPENDENCE?
>> IT IS QUITE THE OPPOSITE.
I THINK THERE’S A REAL LIBERTARIAN STREAK IN NEW HAMPSHIRE.
MILTON FRIEDMAN, THE PATRON SAINT OF LIBERTARIAN ECONOMICS, WAS FOR THIS PLAN BECAUSE THERE IS NOTHING MORE LIBERATING THAN HAVING ECONOMIC FREEDOM.
IF EVERYONE WATCHING AND LISTENING THINKS, WHAT WOULD YOU DO WITH $1000 A MONTH?
THAT WOULD CREATE INDEPENDENCE.
THIS IS THE OPPOSITE OF SO MANY GOVERNMENT PROGRAMS WHERE THERE ARE ALL THESE STRINGS ATTACHED.
THIS IS NO STRINGS ATTACHED.
IT WOULD CUT A LOT OF THE RED TAPE AND LIGHTEN UP THE BUREAUCRACY THAT RIGHT NOW IS CONSTRAINING THE CHOICES OF MANY AMERICANS.
ADAM: HOW DO YOU PAY FOR THIS?
IT SOUNDS IT WILL BE A BIG OUTLAY IN ADDITION TO OTHER MAJOR PROGRAMS YOU ARE PROPOSING.
HOW DO YOU PAY FOR THE DIVIDEND?
>> YOU HAVE TO LOOK AT THIS BIG PICTURE WHERE ALL THIS MONEY IS GIVING UP AND THE CLOUD AND HEADING OFF TO THE COASTS.
THE BIG WINNERS FROM THESE NEW TECHNOLOGIES WILL BE THE TRILLION DOLLAR TECH COMPANIES.
AMAZON, GOOGLE, FACEBOOK, UBER.
WE ARE GOING TO PASS A VALUE ADDED TAX WHICH WILL GET A LOT OF THAT MONEY BACK AND BRING IT TO THE PEOPLE OF NEW HAMPSHIRE SO YOU CAN REBUILD YOUR MAIN STREET ECONOMIES.
OUR ECONOMY NOW IS SO VAST AT ALMOST $20 TRILLION THAT A VALUE ADDED TAX THAT WOULD FALL MOST HEAVILY ON THE COMPANY’S IN A FITTING FROM AUTOMATION WOULD BE ENOUGH TO PAY A $1000 DIVIDEND
FOR EVERY ADULTS.
ADAM: IF YOU COULD ENGINEER A COMPROMISE TO END THE GOVERNMENT SHUTDOWN, WHAT WOULD YOU DO?
>> IF I WERE THE PRESIDENT, IT WOULD NEVER HAVE COME TO THIS.
THIS WALL IS MUCH MORE OF A SYMBOL THAN A SOLUTION.
ANYONE WHO LOOKS AT IT REALISTICALLY KNOWS THEIR MASSIVE PARTS OF THE BORDER THAT WILL END UP HAVING THIS IMPASSABLE WALL.
YOU WILL JUST BE CHANNELING TRAFFIC AND RESOURCES TO OTHER PARTS OF THE BORDER.
THE PROBLEM NOW IS OUR GOVERNMENT HAS FALLEN INTO SUCH A STATE OF DYSFUNCTION THAT PEOPLE ARE WILLING TO ARGUE OVER SYMBOLS.
YOU ARE TALKING ABOUT $5 BILLION IN THE CONTEXT OF A FEDERAL BUDGET.
IT IS REALLY QUITE TRIVIAL.
AT THIS POINT, NEITHER DEMOCRATS NOR PRESIDENT TRUMP CAN GIVE AN INCH.
IT IS UNFORTUNATE WE HAVE REACHED THIS POINT.
IF I WERE PRESIDENT, WE WOULD NEVER BE NEAR THIS.
I AM NOT THE SORT OF PERSON WHO WOULD SHUT DOWN THE GOVERNMENT OVER SOME SYMBOL.
I AM A CEO AND BUSINESS PERSON, AND YOU WOULD NEVER SHUT DOWN A BUSINESS BECAUSE THE LEADERS CANNOT GET ALONG.
ADAM: SHOULD THE DEMOCRATS IN WASHINGTON ACCEPT SOMETHING LIKE A BARRIER IN EXCHANGE FOR REOPENING THE GOVERNMENT?
>> THAT IS A SIGN OF HOW RIDICULOUS THINGS ARE GETTING.
DEMOCRATS ARE LIKE IF YOU DON’T CALL IT A WALL, WE MAY SIGN ONTO A BARRIER.
IT SHOWS HOW RIDICULOUS THIS HAS BECOME.
THE STAKES ARE HIGH ENOUGH WHERE YOU WOULD HAVE TO CONSIDER A COMPROMISE.
THE AMOUNT OF RESOURCES IS TRIVIAL.
BOTH PARTIES SHOULD AGREE YOU NEED TO ENFORCE A STRONG BORDER.
DEMOCRATS AGREE WITH THAT.
THEY DON’T WANT TO GET PRESIDENT TRUMP HIS SYMBOLIC WALL.
ADAM: A LOT OF DEMOCRATS FEEL DONALD TRUMP IS UNFIT FOR OFFICE AND SHOULD BE IMPEACHED.
DO YOU STAND WITH THEM?
>> I THINK PRESIDENT TRUMP IS A SYMBOL OF THE DEEP DYSFUNCTION OUR ECONOMY HAS WROUGHT ON THE AMERICAN PEOPLE.
57% OF AMERICANS CANNOT PAY AN UNEXPECTED $400 BILL.
WE HAVE BLASTED WAY MANUFACTURING JOBS.
WE ARE ABOUT TO DO THE SAME TO RETAIL AND TRUCK DRIVING JOBS AND ON AND ON.
PEOPLE REACHED OUT TO SOMEONE LIKE DONALD TRUMP BECAUSE THEY WERE DESPERATE FOR CHANGE IN THE GOVERNMENT THAT WAS FAILING THEM.
THE FACT THAT DONALD TRUMP IS NOT A GREAT LEADER OR PRESIDENT SHOULD NOT BE A SHOCK.
YOU SORT OF KNEW YOU WERE TAKING A MASSIVE GAMBLE.
I DON’T THINK IMPEACHMENT IS THE ANSWER BECAUSE WE NEED TO BEAT HIM AT THE BALLOT BOX AND START SOLVING THE PROBLEMS THAT GOT HIM ELECTED IN THE FIRST PLACE.
ADAM: YOU ARE A SUPPORTER OF MEDICARE FOR ALL.
IF THE GOVERNMENT DOES HAVE A SINGLE-PAYER HEALTH CARE SYSTEM, OBVIOUSLY HEALTH CARE RATIONING EXISTS NO MATTER WHAT SYSTEM, BUT WHAT PROCEDURES DO YOU BELIEVE WOULD BE RATIONED UNDER
A GOVERNMENT RUN SYSTEM?
>> IF YOU LOOK AT OUR HEALTH CARE SYSTEM, WE ARE IN THE WORST OF ALL WORLD.
WE ARE SPINNING TWICE AS MUCH AS OTHER COUNTRIES FOR WORSE RESULTS.
IF YOU GET SICK OR INJURED, YOU ARE MORE CONCERNED WITH PAYING FOR IT THEN YOU ARE GETTING WELL.
THAT IS COMPLETELY MESSED UP IN THE MOST ADVANCED COUNTRY IN THE HISTORY OF THE WORLD.
WE ARE SPENDING 18% OF GDP.
THE RATIONING PEOPLE ARE CONCERNED ABOUT IS GOING TO BE A NONFACTOR FOR THE VAST MAJORITY OF FAMILIES AND PROCEDURES.
THAT LINE OF THOUGHT TO ME THIS MISSES THE POINT.
BUT I WILL SAY IF YOU LOOK AT OUR EXPENDITURES, WE ARE SPENDING A TON OF MONEY ON THE LAST SEVERAL YEARS OF LIFE.
I THINK MOST AMERICANS, EVEN ELDERLY AMERICANS, WOULD AGREE THAT SORT OF EXPENDITURE MIGHT NOT BE IN THE BEST INTERESTS OF THE PATIENT OR FAMILY MUCH LESS THE COUNTRY.
ADAM: YOU ARE TAKING A VERY HARD LINE ON THE GUN ISSUE REQUIRING LICENSING ARE ALL GUNS.
THIS SEEMS THIS COULD BE A BIG OUTLAY OF GOVERNMENT AS WELL.
HAVE YOU PROPOSE TO MAKE THAT WORK FOR THE PEOPLE WHO HAVE GUNS?
>> THERE ARE 300 MILLION FIREARMS IN THIS COUNTRY.
ANYONE WHO OWNS A GUN WILL BE GRANDFATHERED INTO JUST ABOUT ANYTHING YOU WOULD DO.
I THINK WE HAVE TO FACE FACTS.
AT THIS POINT, WE NEED TO INTELLIGENTLY KEEP TRACK OF THE FIREARMS PEOPLE ARE BUYING NEW, PARTICULARLY IF THOSE PEOPLE HAVE A HISTORY OF MENTAL ILLNESS OR A CRIMINAL RECORD.
WE ALSO HAVE TO BE REAL ABOUT WHAT WE CAN DO IN TERMS OF PEOPLE WHO OWN GUNS.
THERE ARE MILLIONS OF LAW-ABIDING AMERICANS TO OWN FIREARMS.
AND THEY WILL CONTINUE TO OWN THEM AND NO ONE SHOULD PRETEND OTHERWISE.
ADAM: YOU HAVE A LOT OF INTERESTING IDEAS ON YOUR WEBSITE.
I THINK YOU HAVE A COUPLE OF DOZEN.
A LOT OF INTERESTING IDEAS.
>> 75.
ADAM: 75.
YOU HAVE AN INTERESTING IDEA FOR A BAND OF AMERICAN MALLS.
>> 34% OF MALLS ARE SCHEDULED TO CLOSE IN THE NEXT FOUR YEARS.
THOSE BECOME BLIGHTED DISASTERS.
IF YOU HAVE EVER BEEN TO A GHOST MALL, THEY ARE CREEPY.
WE HAVE TO HELP COMMUNITIES REPURPOSE THESE INTO COMMUNITY CENTERS AND ART CENTERS AND RESIDENTIAL.
WHATEVER IS VIABLE IN THAT COMMUNITY.
IF YOU FAIL IN THAT, THE MALL BECOMES SOMETHING THAT SUCKS THE PROPERTY VALUE OUT OF THAT AREA.
IT IS WHAT I CALL NEGATIVE INFRASTRUCTURE.
WE HAVE TO HELP COMMUNITIES TRANSITION THESE MALLS INTO SOME SORT OF POSITIVE USE.
I HAVE SUGGESTED AN AMERICAN MODEL ACT THAT CHANNELS $1 BILLION OR MORE TO HELP MAKE THOSE TRANSITIONS.
ADAM: CERTAINLY SHOCKING FOR ANYONE WHO GREW UP IN THE 1980’S AND 1990’S TO SEE THEM ADVANTAGE -- ABANDONED.