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We pretty much know the answer to that question. Everything universal... that everyone needs to purchase (rent, food, power, etc.) will raise in price to eat u
by kbelder 1y ago
We pretty much know the answer to that question.
Everything universal... that everyone needs to purchase (rent, food, power, etc.) will raise in price to eat up the UBI. It will reach an equilibrium where, to make ends meet, you will need UBI and at least a minimum wage job.
Any attempt to stop that from happening, such as price controls, raising UBI, etc., will cause shortages, abuse, or other issues.
That's my prediction, at least.
- j_timberlake 1y agoYeah that's called Neoclassical economics, I don't doubt it's true. The question is whether the "shortages, abuse, or other issues" are worse than very-high unemployment scenarios in futures where the value of human labor has dipped below labor costs. It's probably going to get ugly no matter how the government tries to intervene, but it would be great if we knew ahead of time which interventions are better than others.