3 ms·
Money is not a market demand signal, it is a medium of labor exchange. I buy your labor with my labor. Some labor is more in demand than other labor, some is in
by stmfreak 9y ago
Money is not a market demand signal, it is a medium of labor exchange. I buy your labor with my labor. Some labor is more in demand than other labor, some is in short supply. Money bridges all the divides between these.
Where UBI fails is that it cuts labor out of the mix and allows some to benefit from the labor of others without performing any labor in exchange. Of course, banks and politicians have been doing this for decades, but a host can only support so many parasites.