Industrial ‘ROBOT’ Taxation System

Abstract

Technology and Humankind have mutually coexisted in this world for decades. However, the world is changing fast and our technology is changing faster; the dynamics of this relationship between humans and technology is feared by many to change soon. The ‘ROBOT apocalypse’ as seen in science fiction can soon become reality for some aspects of our world, in particular, the job market. How do we save our jobs and therefore save our lives from such an event? Is this event even going to happen or is this just yet another false alarm? The legal applications for such an event are relatively unexplored and this is exactly what this paper delves into. We start off my understanding what such an event could look like by drawing parallels from history where similar speculation took place about our relationship with technology, i.e. the Industrial Revolutions. We discover how our current situation is much different from history and how we face a huge challenge to come up with public policy solutions and regulations to combat such an event. This paper takes up this challenge and discusses some ways in which technology governance can be changed and how a system of taxation might be our best bet to protect jobs while also not hindering the growth and progress of our society. The idea of such a tax has been discussed quite a lot, however, major concerns over its implementation have halted this discussion. This paper seeks to breathe a new life into the discussion by clearing up many concerns about such a taxation system and laying down foundations for a new governance system in the best interest of our society.