5 ms·
With UBI everyone will have more money but overall production would drop which is the only meaningful way to improve peoples lives. So people would be worse off
by sintaxi 9y ago
With UBI everyone will have more money but overall production would drop which is the only meaningful way to improve peoples lives. So people would be worse off because prices would adjust to the decreased supply and the increased demand of goods and services.
- crisdux 9y agoIf by production you mean GDP, it's not as simple as that. Increasing production is not the only meaningful way to improve peoples lives. GDP is a very rough indicator for a society's standard of living and well being. GDP is really bad at measuring things like health, household productivity, technology changes, education, leisure, environment, etc - all which may not show up in GDP.
- justherefortart 9y agoWhy would overall production drop when there is more capital in the market? Maybe read up a bit on fiscal multipliers. Government spending (redistribution) is one of the better ones. https://en.wikipedia.org/wiki/Fiscal_multiplier https://en.wikipedia.org/wiki/Fiscal_multiplier
- VikingCoder 9y agoI think there's a few things you're missing. I'm a bleeding-heart liberal, but I think that with UBI in place, I'd be willing to let go of minimum wage. Of forcing companies with enough full time employees to provide benefit X. Of laws forcing employees to join a union. Etc. Also, worker productivity is through the roof. Perhaps we can talk about giving back some of those production gains, if it funds things we like.
- johnthedebs 9y ago> but overall production would drop Citation/explanation needed. I don't see it working out this way – that seems like a dramatic simplification of the economics at play.
- CaptSpify 9y ago[ citation needed ]