3 ms·

"How would anyone control something like that?" We know empirically (see your comment, for instance) that some people would vote against a raise. That idea tha

"How would anyone control something like that?" We know empirically (see your comment, for instance) that some people would vote against a raise. That idea that 'people' is unable to control their passions is not supported by history. Not so long ago, basic income was rejected by referendum in Switzerland. "At some point you would be giving people more money than you produce as a country" That statement is meaningless. Any country that run his own currency can produce an infinity quantity of it. The real constrain is what real resources are available in the country. If you spent more that what is available the value of money will go down (also know as inflation).

colemannugent 9y ago
>Any country that run his own currency can produce an infinity quantity of it. Obviously, but in reality countries only mint more currency according to a strict schedule to avoid destabilizing their economy. UBI has to abide by this otherwise you will do real damage to your economy. My statement is not without meaning, you cannot pretend that a country will be able to give out more wealth that it actually possesses. Technically, the US is over this threshold, but we have a massive amount of credit that we are able to leverage. >We know empirically (see your comment, for instance) that some people would vote against a raise. That idea that 'people' is unable to control their passions is not supported by history. Not so long ago, basic income was rejected by referendum in Switzerland. In regard to Switzerland rejecting UBI I think the issue is once people are dependent on UBI dialing back payouts is near impossible even if it makes the most sense economically. Educated voters will reject raises, but this is like saying that educated people will not eat in excess of what they need. In reality, America has lots of people who know better but are still overweight because of the dependency cycle it creates.

colemannugent 9y ago

>Any country that run his own currency can produce an infinity quantity of it. Obviously, but in reality countries only mint more currency according to a strict schedule to avoid destabilizing their economy. UBI has to abide by this otherwise you will do real damage to your economy. My statement is not without meaning, you cannot pretend that a country will be able to give out more wealth that it actually possesses. Technically, the US is over this threshold, but we have a massive amount of credit that we are able to leverage. >We know empirically (see your comment, for instance) that some people would vote against a raise. That idea that 'people' is unable to control their passions is not supported by history. Not so long ago, basic income was rejected by referendum in Switzerland. In regard to Switzerland rejecting UBI I think the issue is once people are dependent on UBI dialing back payouts is near impossible even if it makes the most sense economically. Educated voters will reject raises, but this is like saying that educated people will not eat in excess of what they need. In reality, America has lots of people who know better but are still overweight because of the dependency cycle it creates.