3 ms·
Except that UBI is/was supported by realllly savvy economists. Like Milton Friedman. A similar argument could be made about public spending on education, that
by jonnycomputer 8y ago
Except that UBI is/was supported by realllly savvy economists. Like Milton Friedman.
A similar argument could be made about public spending on education, that it only creates inflation. But of course education is a great way to increase productivity. Similar effects would probably follow from universal healthcare and a UBI: namely healthy, financially secure people can do things that have short-term costs but long-term benefits, like starting a new business, or doing a low-paid internship, learning new skills, and so on. Also, fewer sick-hours leads directly to increased productivity.
- GhostVII 8y agoThere are also lots of great economists who oppose UBI, so I don't think that is a great argument.
- jonnycomputer 8y agoYes, but did they oppose it on grounds that it was inflationary?
- mifreewil 8y ago> A similar argument could be made about public spending on education, that it only creates inflation. But of course education is a great way to increase productivity Uh yeah, but that doesn't make it a good thing. If the expense of education puts you into a debt hole that is so deep that it's impossible to make up for it with increased productivity, that is a net negative. And what does this have to do with housing? Increased housing costs is like the exact opposite of increased productivity. Limiting supply of housing is a rent-seeking behavior.
- jonnycomputer 8y agoIts made it good enough a thing that nearly every nation on earth has made in a priority. Seeking to limit supply is not necessarily rent-seeking (which is a motivational state), but sure. The comment was directed toward the issue of whether UBI is inflationary, not whether housing supply should be increased.