Unlike Mark Zuckerberg and various other tech and business moguls, former Vice President Joe Biden rejects the idea of giving Americans free cash handouts, an idea also known as universal basic income.
"There is a better way forward," he argues in a blog post on the University of Delaware's website.
UBI would guarantee citizens regular payments from the government, regardless of employment status, wealth or age. That could help make up for the loss of jobs to robots, for example, since a study from Oxford University researchers predicts that 47 percent of U.S. jobs could be replaced by automated technology in the next 10 to 20 years.
That's also why Elon Musk, founder and chief executive officer of SolarCity, SpaceX and Tesla, believes that cash handouts may be inevitable. In an interview with CNBC, Musk said: "There is a pretty good chance we end up with a universal basic income, or something like that, due to automation. I am not sure what else one would do. I think that is what would happen."
Other proponents of UBI approach it as a way to bolster citizens and help them take more chances. In a May 25 commencement speech at Harvard University, Zuckerberg said societies should measure progress "not by economic metrics ... but by how many of us have a role we find meaningful. We should explore ideas like universal basic income to make sure everyone has a cushion to try new ideas."