00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Sanjeev Sanyal rejected Elon Musk's proposal for universal high income
00:06funded by government checks, calling it economically flawed and fiscally dangerous.
00:12In a post on X, Musk claimed that AI-driven production would outpace money supply growth
00:17and keep inflation in check while making traditional work optional.
00:21Sanyal countered that AI will cause short-term disruption but create new jobs over time.
00:26He rejected the idea that jobs and demand are fixed,
00:29saying history shows economies create more work over time.
00:32He also dismissed claims that AI-driven abundance would automatically prevent inflation.
00:37Sanyal warned the proposal would bankrupt governments.
00:40The IMF flagged rising risks from high public debt.
00:44Employers announced over 27,000 AI-linked job cuts in the first quarter of 2026,
00:50up 40% year over year.
00:51For all things money, visit Benzinga.com.
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