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The incentive for such jobs will be higher wages which in return means higher prices which eventually compensates for the whole UBI in the first place. Money _
by cbmuser 5y ago
The incentive for such jobs will be higher wages which in return means higher prices which eventually compensates for the whole UBI in the first place.
Money _cannot_ have any value if it’s not backed by any goods or labor.
If your baker gets his UBI, why would he want to get up early and bake your bread in the first place when there is no incentive?
Or why would anyone want to sell you anything when the money isn’t actually a „credit“ for any goods or labor.
Money is just a convenient method for exchanging goods and labor. If you just give out money to anyone for free without exchanging it for labor, it eventually doesn’t have any value and people will find another currency or go back to exchange goods and labor directly.
- alfiedotwtf 5y ago> If your baker gets his UBI, why would he want to get up early and bake your bread in the first place when there is no incentive? This is why I'm asking. I actually know two bakers, and can guarantee that there's no way they would go to work if they had exactly what they were earning but didn't have to get up and go to work. Extending this out, no baker would consider working unless their pay was above and beyond UBI. And the only way to pay them more while having the same profits to the bakery owner would be to raise prices. This is a direct example of how UBI would definitely cause inflation.