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Where does any money come from? And where would the money go is just as important a question. The answer is 'around'. At varying speeds. The economy is a dynam
by jameshart 3y ago
Where does any money come from?
And where would the money go is just as important a question. The answer is 'around'. At varying speeds. The economy is a dynamic system, not a static one. The amount of money in it is one variable. The velocity of that money is another.
But the money is just a made up thing. The thing that an economy is actually FOR is to decide how the scarce resources that are available get allocated. What do we use the land, the raw materials, the precious hours of productive human labor, the capital we've already invested in, and the energy we're able to generate... what do we use all that to DO?
And like I said, UBI is a way of giving more people a vote in those decisions. So yes, that does mean the people who previously had ALL the votes are going to find they have less of a say. The 'value' of their money has gone down, in that it has less impact on resource allocation. So maybe it makes sense that such a scheme causes the currency unit to become less valuable.
But if it results in a better allocation of resources, why does that matter?
- mytailorisrich 3y agoThis is not an answer... and the usual problem when discussing UBI, because it is an unrealistic and utopian idea, and we can see that in you comment. It is not possible to hand £85 billion a month to everyone in the UK (in this case but that applies everywhere), this is not a "made up thing", this is economics 101.