5 ms·

Quit my job. Travel the world. Although one thing that's always bothered me about the UBI idea is that if everyone else is getting this basic income, wouldn't

by briga 9y ago

Quit my job. Travel the world. Although one thing that's always bothered me about the UBI idea is that if everyone else is getting this basic income, wouldn't it effectively make that 5k worthless? Perhaps someone with a greater understanding of economics could enlighten me?

encoderer 9y ago
It is not necessarily inflationary, just redistributive
- andai 9y ago
  Where does the money come from in the most common UBI scenarios? Is it the richest people subsidising the entire rest of the world?
  - djrobstep 9y ago
    It would come from the entire rest of the world subsidising the rich slightly less.
    - andai 9y ago
      Could you elaborate?
stuffaandthings 9y ago
UBI would cause hyper inflation if it came from 'new' money. As in, if the fed just started printing out 5k/mo/person. Most theoretical implementations of UBI suggest the money coming from taxes (taken from larger corporations) or from a reduction of funding in another area (military)
imustbeevil 9y ago
Getting money doesn't affect the costs to produce goods. If many companies increase their prices because people have more money, it leaves an opportunity for smaller companies to provide the same products with lower profit margins, or Zero profit margins because they too have basic income and don't need to siphon overhead from other people to survive.