3 ms·
We don't have enough money in the supply to provide $1m to everyone annually. UBI isn't a money-printing operation. It's a redistribution scheme. The money sup
by function_seven 8y ago
We don't have enough money in the supply to provide $1m to everyone annually.
UBI isn't a money-printing operation. It's a redistribution scheme. The money supply is fixed, but some of it is scraped off the top of the mountain and used to fill in the valley below.
Yes, there would be inflation as a result. But not as much as the median increase in income.
Say that gallon of milk is $5 today. UBI increases all incomes by $10,000 a year. Milk may rise to $5.50/gal (10% inflation), but the median income would have risen something like 25%.
UBI might still be a bad idea, or have unintended consequences, but they're going to be more subtle and indirect than hyperinflation.