5 ms·

Hyperinflation.

by stray 3y ago

Hyperinflation.

ben_w 3y ago
That depends how it's funded. Printing money? Yes. Taxing economic rents? Probably not. Owning a fully automated workforce? Yet to be determined.
- Detrytus 3y ago
  It doesn't depend on how it's funded. It's a simple mechanics: once the word gets out that everybody is getting free money then all the companies raise their prices, trying to capture that money, because why wouldn't they?
  - dfxm12 3y ago
    Greedflation already exists without any type of UBI in place. UBI is not meant to combat greedflation. You're right to be worried about greedflation, but being against UBI because greedflation exists simply doesn't follow.
    - niggerbenis 3y ago
      [flagged]
    - Izkata 3y ago
      There's a big difference between "not combating" and "encouraging". UBI would be much closer to "encouraging".
      - dfxm12 3y ago
        Alaska has had UBI for a while. It has been studied up and down. Studies show since implementing it, poverty has been reduced, crime is down. I haven't seen anything suggesting it encourages greedflation. You are making this claim about UBI, but the difference is you aren't qualifying it beyond with what appears to be your personal thoughts on the matter.
        Izkata 3y ago
        If you mean the Alaska Permanent Fund, according to wikipedia: > The amount of each payment is based upon a five-year average of the Permanent Fund's performance and varies widely depending on the stock market and many other factors. > The lowest individual dividend payout was $331.29 in 1984 and the highest was $3,284 in 2022. That's not what people are generally talking about with "basic income" - it's not anywhere near enough to meet basic needs, and it's not reliable due to the fluctuations.
        ben_w 3y ago
        I agree with you on this, and I think the best reference point on the question of greedflation specifically would be that pensions exist and yet pensioners often get discounts. It still isn't universal, merely suggestive.
        beej71 3y ago
        But... It looks like it's safe, right? Nothing imploded in Alaska because of it? So how far can we push it before something implodes?
  - ben_w 3y ago
    > why wouldn't they? Laws, price controls, 100% tax rates on profits over certain levels, government ownership of the means of production. Devil's in the details for what exactly any of those things "should" be.

Hyperinflation.

by stray 3y ago

Hyperinflation.

That depends how it's funded. Printing money? Yes. Taxing economic rents? Probably not. Owning a fully automated workforce? Yet to be determined.

Detrytus 3y ago
It doesn't depend on how it's funded. It's a simple mechanics: once the word gets out that everybody is getting free money then all the companies raise their prices, trying to capture that money, because why wouldn't they?
- dfxm12 3y ago
  Greedflation already exists without any type of UBI in place. UBI is not meant to combat greedflation. You're right to be worried about greedflation, but being against UBI because greedflation exists simply doesn't follow.
  - niggerbenis 3y ago
    [flagged]
  - Izkata 3y ago
    There's a big difference between "not combating" and "encouraging". UBI would be much closer to "encouraging".
    - dfxm12 3y ago
      Alaska has had UBI for a while. It has been studied up and down. Studies show since implementing it, poverty has been reduced, crime is down. I haven't seen anything suggesting it encourages greedflation. You are making this claim about UBI, but the difference is you aren't qualifying it beyond with what appears to be your personal thoughts on the matter.
      - Izkata 3y ago
        If you mean the Alaska Permanent Fund, according to wikipedia: > The amount of each payment is based upon a five-year average of the Permanent Fund's performance and varies widely depending on the stock market and many other factors. > The lowest individual dividend payout was $331.29 in 1984 and the highest was $3,284 in 2022. That's not what people are generally talking about with "basic income" - it's not anywhere near enough to meet basic needs, and it's not reliable due to the fluctuations.
        ben_w 3y ago
        I agree with you on this, and I think the best reference point on the question of greedflation specifically would be that pensions exist and yet pensioners often get discounts. It still isn't universal, merely suggestive.
        beej71 3y ago
        But... It looks like it's safe, right? Nothing imploded in Alaska because of it? So how far can we push it before something implodes?
- ben_w 3y ago
  > why wouldn't they? Laws, price controls, 100% tax rates on profits over certain levels, government ownership of the means of production. Devil's in the details for what exactly any of those things "should" be.