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>As unemployment rises, the UBI can be raised. As it increases, some people will choose to cut back their hours, or drop out of paid work altogether, leaving ro
by s1artibartfast 2y ago
>As unemployment rises, the UBI can be raised. As it increases, some people will choose to cut back their hours, or drop out of paid work altogether, leaving room for those who want/need the extra money that paid work provides. At some point, the market will be brought back into balance
I couldn't make it more than a dozen sentences in before running into the illogical and unsupported claims. If unemployment is high, why would we want to drive more workers out of the labor market? How would this create "balance". Ubi would be highest with 100% unemployment.
I assume this comes back to the false idea that printing currency can be treated like real economic growth. You can print all the money you want, but at the end of the day someone has to grow the food and build the widgets.