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well... one way, you have goons, the other way, you have livers. The problem with mincome is the hedonic treadmill. the folk receiving mincome will grow dissa

• naravara 8y ago
  >the folk receiving mincome will grow dissatisfied with their lot and militate for raises. negative feedback is unpleasant but necessary. Close. What it does is reduces supply (fewer people working) while raising demand (people with more money in their pockets). This winds up causing inflation that erodes away the value of the minimum income. It's not even a hedonic treadmill, just an inflationary one. A basic income guarantee can only ever work as temporary assistance or as a residualist stopgap for people on the fringes of society. If it's too widespread it ends up working against itself. A job guarantee increases supply (assuming you use the labor power productively) while keeping demand high, so that works against the inflation problem. It's a tough balancing act though. You have to make sure the make-work is actually producing useful stuff or you'll have all the same problems as the basic income plus a bunch of random ditches dug. During Cultural Revolution in China cadres kind of engendered ecological catastrophes by creating bureaucratic agencies that would pointlessly clearcut forests for no reason. It's basically the paper-clip maximizing AI problem, only the intelligence isn't artificial.