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Try this experiment: imagine we gave everyone a UBI of $1 Billion per year. Sure, it's rediculous, but think of the ramifications (changes in prices in partic
by DougN7 10y ago
Try this experiment: imagine we gave everyone a UBI of $1 Billion per year. Sure, it's rediculous, but think of the ramifications (changes in prices in particular). If you could chart how much you give everyone (from 0 to $1 billion) vs the amount prices would change, you'd have some continuous upward movement. Maybe linear, maybe not. The point is giving everyone $1 billion obviously will increase prices. But there isn't some point along that line where it suddenly jumps. It's not like giving everyone $35K per year has no impact, but $35,100 does. It all has an impact, scaled by the amount given.
- vessenes 10y agoAgain, I think you're assuming that at the far left of that 'linear' chart people spend solely on scarce goods. Research shows that isn't so. I think the actual chart would look like a tiny price bump which went mostly flat until some critical amount, well over $12k a year, was reached, at which point we'd see something like what you're describing.