2 ms·
That brings up an interesting point. What if UBI was $50K. And garbage men made an extra $50K for working. So do the lettuce pickers, and then sewage workers
by DougN7 11y ago
That brings up an interesting point. What if UBI was $50K. And garbage men made an extra $50K for working. So do the lettuce pickers, and then sewage workers, and the newpaper deliverer, burger flippers, -- basically every job that needs to get done that isn't pleasant. Sure, they won't all get $50K - some more, some less. Labor _costs_ are now very high, high enough that I think prices would have to rise significantly. Suddenly $50K isn't enough to live on any more... Seems like a spiral that could never be satisfied.
- antisthenes 11y agoI believe you're just talking about inflation as a result of UBI and the potential > Labor _costs_ are now very high, high enough that I think prices would have to rise significantly Your assertion is not supported by data: https://research.stlouisfed.org/fred2/graph/?g=2Xa https://research.stlouisfed.org/fred2/graph/?g=2Xa Labor costs have been shrinking for years, much more drastically so since the mid 1970's. This is also supported by data about effective wage stagnation (approximate 6% growth over the last 35 years, most of that going to the top quintile) Regarding your original assertion about rising prices - that may be true to some degree if we're talking about consumables, but you could argue that some of the current welfare systems are doing the same thing.