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Consider that some resources are naturally or artificially constrained (housing, medical care, good schools). If everyone has more money, those things have alm
by klipt 3y ago
Consider that some resources are naturally or artificially constrained (housing, medical care, good schools).
If everyone has more money, those things have almost limitless capacity to absorb the extra money in the form of higher rent, higher health costs, higher college fees.
UBI can help somewhat to decrease inequality (same as welfare targeted only at the poor) but if the government prints and gives everyone a million dollars, that would obviously cause inflation to the point that a million isn't that much money.
Reducing inequality will generally mean that well off people (which most software engineers are) will ultimately have less spending power.
On the other hand removing artificial constraints could make those resources cheaper for everyone. Relax zoning to build more housing. Increase residency spots to train more doctors and allow foreign licensed doctors to practice in the US more easily. Etc.
- jiggawatts 3y ago> government prints and gives everyone a million dollars I think you might be conflating unrelated economic boogeymen. UBI is not at all about the government "printing" money. It's a redistribution of taxes, such that the net government taxation income remains the same. The total money supply remains constant.
- dagw 3y agoIt's a redistribution of taxes It's also a replacement for other forms of financial aid. Someone currently on unemployment or other benefits won't get UBI on top of his current benefits, but instead of. Most proponents of UBI also argue that this simplification of the benefits system will bring its own savings as you will have less administrative overhead that comes with means testing and dealing with multiple overlapping systems.