3 ms·
This article is absurd. Capitalism 2.0 != Capitalism. Nominal GDP growth != real GDP growth. UBI != ending winner takes all. UBI to all is pure, unadulterated
by fny 6y ago
This article is absurd. Capitalism 2.0 != Capitalism. Nominal GDP growth != real GDP growth. UBI != ending winner takes all.
UBI to all is pure, unadulterated inflation. More money is chasing, the same goods and the same winners will suck that money out of the system. If the money is given to everyone, there will not even be a redistributive effect.
Hell, you might even have fewer goods being produced since there could potentially be less incentive to work. Couple this with a boomer population that's exiting the workforce, and a nightmare could potentially unfold.
So yes be prepared for GDP to skyrocket... because of inflation.
Now if you want to pitch employment guarantee programs and better social services, that's worth a discussion. Otherwise, injecting pieces of paper into the system does nothing for real growth in the economy.