4 ms·
As is often the case in economics, the scarcity is not an absolute lack of resources, but a result of inefficient allocation. The world's mean income is about
by iamthemonster 6y ago
As is often the case in economics, the scarcity is not an absolute lack of resources, but a result of inefficient allocation.
The world's mean income is about $18000 adjusted for purchasing power parity so it's not a complete stretch to get to $2000 per month for the whole world https://www.bbc.com/news/magazine-17512040 https://www.bbc.com/news/magazine-17512040
The USA has a mean income of about $72,000 so in theory UBI could be $6000/mo without bankrupting the country.
It would be very interesting to see what kind of crazy spending-led boom you could achieve by redistributing wealth exactly evenly across every American citizen.
- kortilla 6y agoThe mean income has no relevance on how much UBI can be issued.
- iamthemonster 6y agoI don't understand what you mean by this. UBI redistributes income - wouldn't it obviously be funded via taxation? USA would be able to afford a much higher UBI than Sierra Leone would because US income is higher. What determines how much UBI can be issued if aggregate income is irrelevant?
- kortilla 6y agoIf you fund by a 100% income tax, everyone would quit instantly. There would literally be no point in working for money. UBI cannot be funded by the thing UBI would eliminate.