Worstal does sort of believe in a minimum wage.
Worstall does sort of believe in a minimum wage.
But not one that will interfere (much) with the market, so difference between that and a "living" wage has to be made up by welfare payments. Welfare payments have to ultimately come from Taxation. Any other Governmental income will be minuscule?
You need means testing.
Obviously this sort of scheme also ultimately applies using same means testing to actually unemployed, no matter if traditionally, or due to a Robot Apocalypse. While most people made unemployed (or their children) by Robotics/Automation find other activities, perhaps the underlying trend will be upwards.
Royalty income from Copyright for people deciding to be creative (IMO less likely to be replaced by AI than most AI enthusiasts think) is important. So the push by Google and friends to have only their Intellectual Property count has to be squashed.
It's important to see the big picture.
EDIT: PS: to Tim Worstall
Keep doing these good thoughtful articles. It didn't seem long at all. Even if we don't all agree with all of it. What's the point anyway of posting stuff everyone agrees with, that would be stuff like "rain is wet"?
I like your engaging comments in the comments.