3 ms·

Are you saying because everyone gets it, it's a wash? Isn't it more about how the money moves around the economy? Others are pointing out the small sample size,

by dpflan 3y ago

Are you saying because everyone gets it, it's a wash? Isn't it more about how the money moves around the economy? Others are pointing out the small sample size, which makes this seem pretty insignificant to impact the economy, and more about the people's experience and change in living/living quality.

lotsofpulp 3y ago
The whole point of UBI is that it is universal, and therefore causes those at the very bottom to immediately renegotiate their pay to quality of life ratio. Without this action on a mass scale, it cannot flow up the chain to properly adjust the supply and demand curves to fulfill the goals of UBI.
nwah1 3y ago
Whether that is what GP was saying or not, I don't know. But everyone receiving a basic income guarantee, with no other economic changes, would mean that the amount that landlords and other rent-seekers could expect to charge would dramatically increase, and almost all of the benefits would go to those who hold all the bargaining power by controlling the essentials of life. Money isn't wealth. Bargaining power is wealth. Adding more magic numbers in a broad-based way doesn't change the bargaining power. The main change is that funds would be diverted from productive enterprises to rent-seeking ones.
- anonymouskimmer 3y ago
  At some point tax laws would be changed. I can think of several ways they could change so have no idea what would be the ultimate result.
- uoaei 3y ago
  UBI would drastically shift supply/demand curves for all sorts of things. It's hard to predict what all the nth order effects would be. I'm generally in favor of some kind of broad assistance to establish a floor that preserves people's dignity, but the cynic in me also expects the rich to play games with supply and demand if it's implemented to paint the effort as destructive to the economic order.

3 ms·

Are you saying because everyone gets it, it's a wash? Isn't it more about how the money moves around the economy? Others are pointing out the small sample size,

by dpflan 3y ago

lotsofpulp 3y ago
The whole point of UBI is that it is universal, and therefore causes those at the very bottom to immediately renegotiate their pay to quality of life ratio. Without this action on a mass scale, it cannot flow up the chain to properly adjust the supply and demand curves to fulfill the goals of UBI.
nwah1 3y ago
Whether that is what GP was saying or not, I don't know. But everyone receiving a basic income guarantee, with no other economic changes, would mean that the amount that landlords and other rent-seekers could expect to charge would dramatically increase, and almost all of the benefits would go to those who hold all the bargaining power by controlling the essentials of life. Money isn't wealth. Bargaining power is wealth. Adding more magic numbers in a broad-based way doesn't change the bargaining power. The main change is that funds would be diverted from productive enterprises to rent-seeking ones.
- anonymouskimmer 3y ago
  At some point tax laws would be changed. I can think of several ways they could change so have no idea what would be the ultimate result.
- uoaei 3y ago
  UBI would drastically shift supply/demand curves for all sorts of things. It's hard to predict what all the nth order effects would be. I'm generally in favor of some kind of broad assistance to establish a floor that preserves people's dignity, but the cynic in me also expects the rich to play games with supply and demand if it's implemented to paint the effort as destructive to the economic order.