I don't disagree with most of what you wrote, but, IMO UBI is not a moral hazard generator. Just because you get the money doesn't incentivize you to not care a

I don't disagree with most of what you wrote, but, IMO UBI is not a moral hazard generator. Just because you get the money doesn't incentivize you to not care about prices. It may make you less sensitive to prices, but it will need to be budgeted nonetheless. If it were infinite UBI, then yes, a free source of infinite money would create a situation where buyers are shielded from rising prices and thus don't care about them. UBI is NOT insurance, though, and so it is difficult to argue that a limited income, even if free, creates a moral hazard that would truly cause people to no longer budget for things, any more than a salary makes you price insensitive. The quantity of the UBI seems to be the relevant factor, I guess.