3 ms·

The first thing will be forced by economic factors, not just landlords doing their job. everyone just takes a permanent vacation because work sucks. At the very

The first thing will be forced by economic factors, not just landlords doing their job. everyone just takes a permanent vacation because work sucks. At the very least a lot of them will work less. This is an intended outcome. Supply hence falls through the floor because full automation doesn't exist. As supply is constrained and demand is just as high (if not higher) this in turn starts triggering higher prices which is to say (hyper)inflation. Now your UBI is worth nothing and you will be joining the nearest sweatshop soon. If the government tries to inflation correct UBI it will just make it worse.

michaelmrose 6y ago
Paying people 1200 a month isn't going to inspire them to take a permanent vacation because while it might be enough to survive on its not enough to live well on and people want to be needed and purposeful. Supply might tighten but it wont fall "through the floor". Furthermore demand right now in the US isn't just as high if not higher its crap and its going to be crap through 2020. Instead of basing it on bad armchair psych how about provide a credible analysis from an actual economist that shows the conclusions you are suggesting.
- timwaagh 6y ago
  If you want serious economical analysis by an actual economist, I'd suggest maybe not going on hacker news, for example you could go here https://www.google.com/url?sa=t&source=web&rct=j&url=https://www.independent.org/pdf/tir/tir_19_04_02_henderson.pdf&ved=2ahUKEwj8mcWa3_XqAhXNsaQKHcwZA9IQFjAHegQIBBAB&usg=AOvVaw11SbJ_GTh7IEI9ZA6eYIUr&cshid=1596138550537 https://www.google.com/url?sa=t&source=web&rct=j&url=https:/... . Its a different argument, but the first part before it gets overly political is especially a good, by-the-numbers approach to basic income. I would point out though that the original blog is not much of an economical analysis so I don't see why my comment not being a scholarly article can be held against it.

michaelmrose 6y ago

Paying people 1200 a month isn't going to inspire them to take a permanent vacation because while it might be enough to survive on its not enough to live well on and people want to be needed and purposeful. Supply might tighten but it wont fall "through the floor". Furthermore demand right now in the US isn't just as high if not higher its crap and its going to be crap through 2020. Instead of basing it on bad armchair psych how about provide a credible analysis from an actual economist that shows the conclusions you are suggesting.

timwaagh 6y ago
If you want serious economical analysis by an actual economist, I'd suggest maybe not going on hacker news, for example you could go here https://www.google.com/url?sa=t&source=web&rct=j&url=https://www.independent.org/pdf/tir/tir_19_04_02_henderson.pdf&ved=2ahUKEwj8mcWa3_XqAhXNsaQKHcwZA9IQFjAHegQIBBAB&usg=AOvVaw11SbJ_GTh7IEI9ZA6eYIUr&cshid=1596138550537 https://www.google.com/url?sa=t&source=web&rct=j&url=https:/... . Its a different argument, but the first part before it gets overly political is especially a good, by-the-numbers approach to basic income. I would point out though that the original blog is not much of an economical analysis so I don't see why my comment not being a scholarly article can be held against it.