4 ms·

that's ignoring the overwhelming likelihood that rents (and inflation) will rise to gobble up that extra $1k/mo, and then you're back at square one, but now loc

that's ignoring the overwhelming likelihood that rents (and inflation) will rise to gobble up that extra $1k/mo, and then you're back at square one, but now locked into being another $1k behind, and the wealthy landlords (like reits and hedge funds) will have an extra $1k from every renter in the state.

egypturnash 5y ago
Peg the UBI to a set of cost-of-living indexes that include rent, trigger hyperinflation, suddenly everyone's paying a hundred billion per month in rent and the fortunes the ultra-rich are sitting on vanish, I see no problem here.
- clairity 5y ago
  that's heedlessly (and appallingly) justifying runaway inflation. the end state of that game is that ubi would become our only income, which would sap all economic incentive away from any creative endeavor, as we all become serfs to a governing elite (who'd of course pay themselves way more because they deserve it for doing all the hard work).
  - egypturnash 5y ago
    I call bullshit on your prediction. When my grandmother died she left me enough money to not have to work a day job for most of a decade. I spent this time using my creative skills to draw whatever the Muses dictated, instead of what a corporation would pay me to do (and instead of doing other things corporations would pay me more to do). I built a modest following that is large enough to fund a Patreon campaign that covers my needs, and allows me to keep on drawing pretty much whatever the heck I want to draw.
lumost 5y ago
This effectively amounts to the claim that low end workers are not living in a market economy. If they get raises landlords/other rent seekers will take their wages, if the government gives them money - then The same will occur. If we have such incontrovertible proof that we are not living in a market economy, then many non market interventions become palitable. After all why should landlords be the favored gentry vs the power company or any other firm. Landlords and hedge funds will be much more displeased with this set of outcomes.

egypturnash 5y ago

Peg the UBI to a set of cost-of-living indexes that include rent, trigger hyperinflation, suddenly everyone's paying a hundred billion per month in rent and the fortunes the ultra-rich are sitting on vanish, I see no problem here.

clairity 5y ago
that's heedlessly (and appallingly) justifying runaway inflation. the end state of that game is that ubi would become our only income, which would sap all economic incentive away from any creative endeavor, as we all become serfs to a governing elite (who'd of course pay themselves way more because they deserve it for doing all the hard work).
- egypturnash 5y ago
  I call bullshit on your prediction. When my grandmother died she left me enough money to not have to work a day job for most of a decade. I spent this time using my creative skills to draw whatever the Muses dictated, instead of what a corporation would pay me to do (and instead of doing other things corporations would pay me more to do). I built a modest following that is large enough to fund a Patreon campaign that covers my needs, and allows me to keep on drawing pretty much whatever the heck I want to draw.

lumost 5y ago

This effectively amounts to the claim that low end workers are not living in a market economy. If they get raises landlords/other rent seekers will take their wages, if the government gives them money - then The same will occur. If we have such incontrovertible proof that we are not living in a market economy, then many non market interventions become palitable. After all why should landlords be the favored gentry vs the power company or any other firm. Landlords and hedge funds will be much more displeased with this set of outcomes.