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> The problem with your "theory" is that they are going to decrease at a 1:1 ratio with increase in labor costs from the UBI Actually, I never said 1:1 ratio w
by bane 11y ago
> The problem with your "theory" is that they are going to decrease at a 1:1 ratio with increase in labor costs from the UBI
Actually, I never said 1:1 ratio with UBI. I just claimed the labor markets would decrease and monetary supply would increase.
> True, but that's not the argument you are making.
No, that's exactly and precisely the argument I'm making. I'm not an opponent of UBI for wishy washy wealth redistribution reasons, but because of the lousy labor markets it would create and the inflation it would create.
The models for what would happen under UBI are not clear, but there are not positive economic models under a UBI scheme by major economists.
UBI proponents have failed to provide any model whatsoever and fall back on vague handwaivy feelings that seem to always only show extremely positive outcomes with no possible negatives and a reliance on magic automation technology that doesn't exist.
- jhall1468 11y ago> Actually, I never said 1:1 ratio with UBI. I just claimed the labor markets would decrease and monetary supply would increase. But that is what you said: > In effect, nobody gets paid more because everybody gets paid more, which drives up prices, which is the definition of inflation. Emphasis is mine. That's a pretty clear indication that they will entirely offset each other.