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UBI != stimulus. The vast majority of this money went into state and local governments which led to infrastructure projects, expanded social programs, etc. whic
by stinkytaco 5y ago
UBI != stimulus. The vast majority of this money went into state and local governments which led to infrastructure projects, expanded social programs, etc. which have large ripple effects in the economy. I'm not really on one side or another regarding UBI, but it's faulty to compare large scale government spending with UBI. The demand is in different places. It's also faulty to lay this strictly at the feet of stimulus when the seismic shift in the global economy and workforce also play a role.
- roenxi 5y agoThe stimulus was implemented by the same people who will implement the UBI. It is obvious they don't understand the UBI theory, or they'd have implemented the stimulus differently. They also aren't even admitting that their policies are the cause. In the linked article, the white house has incorrectly identified policy failures as evidence of Putin's influence US economy. Which is kinda off, Russia is a global minnow compared to the inflation that is going on. Doesn't sound like someone learning the theory correctly based on their mistakes. There is evidence that while what you want != stimulus, what is most likely to get implemented just got nailed in a coffin in the minds of people who like evidence.
- whatshisface 5y agoThe theory that an increase in the dollar supply will drive down the price of a dollar (as denominated in tons of grain) is not hard to understand, and there is no shortage of educated people in Washington. I am afraid to say what we are seeing is a great example of politicians deflecting the blame for a crisis they themselves engineered.