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No, it's not a problem. The suppliers cannot keep increasing the prices to match UBI, because they will face increased competition from people who now have othe
by js8 1mo ago
No, it's not a problem. The suppliers cannot keep increasing the prices to match UBI, because they will face increased competition from people who now have other options (more freedom) thanks to UBI.
For example, let's say I buy vegetables. With UBI, I might spend some time to grow my own. Or buy from a neighbor who expands his production.
It's true that price of labor might rise with UBI, but that can only rise to the share of labor as input. It will also force to replace labor-intensive products with capital-intensive (automation), which is a good thing.