>Basic income is known to create a large disincentive for work. In previous experiments (Mincome) labor supply dropped by about 10% So what? Those people spen

>Basic income is known to create a large disincentive for work. In previous experiments (Mincome) labor supply dropped by about 10% So what? Those people spent their time on things they valued more than the money they could earn by selling it. This just shows that they were underpaid for the value of their time through the threat of imminent pain of starvation or homelessness. The market will adjust and pay those people more if the value they create and the profits reapable from their labor make that paid labor worth it. Low value jobs will go away. Some of that freed time will be spent on consuming, no doubt, but much will be spent on longer horizon value adding activities like schooling or starting businesses or more efficient uses like taking care of children.