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Or a $3/hour jobs becomes a $1 an hour job because markets are incredibly efficient at pricing in a new, free flow of money.
by matt_wulfeck 9y ago
Or a $3/hour jobs becomes a $1 an hour job because markets are incredibly efficient at pricing in a new, free flow of money.
- aylmao 9y agoExactly, which is why even with UBI we need reasonable minimum wages.
- matt_wulfeck 9y agoWhy not take the next logical step and control prices on everything?
- richardwhiuk 9y agoWhy? Minimum wage is largely designed to stop people being exploited by a form of economic slavery, but the UBI should prevent that, and mean that the wage has to be attractive.
- AnthonyMouse 9y agoExcept that the employee can walk away from an employer who doesn't pay enough and still keep the UBI. And the demand for labor at $3/hour is huge. People making even $40K/year would stop doing their own laundry or washing their own cars if they could hire someone to do it for that price. Good luck convincing anyone to work for $1/hour when everyone else is paying more. Moreover, even if someone could only get a job for $1/hour, what is that supposed to change? Then they get a job at $1/hour + UBI, they don't starve, and the second someone offers $2/hour they trade up. Or they decide that their time is worth more than that to themselves and spend it volunteering to gain experience or going to school or whatever. Which one of these is supposed to be a problem?