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Your "simple math" is pretending that once a UBI payment is made, its value is just consumed and totally disappears. You are not taking into account the velocit
by MrGuts 4y ago
Your "simple math" is pretending that once a UBI payment is made, its value is just consumed and totally disappears. You are not taking into account the velocity of money, that is how many times a unit of currency mediates trade. A meaningful UBI would be like a stimulus without inflation, since the total money supply need not increase.
I'd also say, unstable part-time gig work that does not allow financial independence also does a pretty good job of disincentivizing work. If you're going to end up poor, why not just be poor without the added hassle of work?
- amalgamated_inc 4y agoBut all the money we already pay also has a velocity of money, and a lot of it is very quick (medicare/medicaid/social security aren't being hoarded). Stimulus without inflation - what? It'd be the opposite. We'd turn the economy even more into a consumer economy, lowering savings and investment.