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If everyone is on universal basic income…. Where would the money come from? Who will do the work? Wouldn’t that be extremely inflationary?
by tamaharbor 5y ago
If everyone is on universal basic income…. Where would the money come from? Who will do the work? Wouldn’t that be extremely inflationary?
- somehowlinux 5y agoNo. It wouldn't. Look in to Ontario preliminary results before it was cancelled by the current conservative government. The vast majority of people under ubi chose to use the opportunity to re-educate themselves to raise their position in society.
- elviejo 5y agoRobots doing most of the manual labor.
- muzani 5y agoThe idea behind it is to let the rich become even richer... and then tax them more. It benefits VCs over all, because it lets everyone take super high risks but isn't paid out of some seed investor's pocket. Seed stage VCs like Y Combinator and 500 Startups have used the model pretty well, it's just trying to scale it to more people. Inflation is a whole other story, but it's controlled by the federal reserve. Generally the goal of the Fed is to keep unemployment low and prevent recessions. Inflation is a tool. Economy isn't about gold or cash or value of that cash; it's about GDP and political stability. When inflation increases, people spend money rather than storing it, fueling more growth. When growth is healthy, they bring inflation back down to close to 0%. So the Fed can stimulate the economy by printing more money. Inflation hurts, but it's all on purpose, a stick that predictably move the donkeys. UBI... makes the concept of unemployment weird, but it serves the purpose of making things more stable.