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I was reading about one of these free money trials and realized it will never really work that well. If you don't earn your money you will not spend it wisely.
by edoo 7y ago
I was reading about one of these free money trials and realized it will never really work that well. If you don't earn your money you will not spend it wisely. In one of the trials a lady had a $150/month cell phone plan. I make my own money and have a $20/month unlimited plan. My cat was getting fat until I got him a puzzle feeder. The slightest amount of work for his resources means he uses massively less resources. I suspect if everyone were given free money the monthly nut of the average poor person would rapidly increase to consume all funds and leave them in effectively the exact same or worse position.
- s0rce 7y agoMany people experience significant lifestyle and spending creep as they earn more money, even when its still paid to them in exchange for work many still spend it all on subjectively frivolous things. I don't think giving people free money will be all that different. There are people who won't waste it regardless. Also, UBI doesn't mean no one will work and not understand the value of money.
- pishpash 7y agoExactly this, along with rent seeking suppliers like landlords will doom this. You really need a free market and rational actors, which there are not. That's not to say the existing ways of redistribution are better.
- eloff 7y agoYes, lifestyle inflation tends to follow income inflation and people end up better off, but no freer. I think that's fine, the money goes right back into the economy and creates jobs. Hopefully some percentage of people will forgo the lifestyle inflation and use their newfound freedom to start businesses. That's the really interesting untested hypothesis of UBI to me. It's what I would do with it personally.