2 ms·

Wouldn't this cause inflation? The price of food, shelter, and basic needs is determined by peoples' ability to pay. I'd expect the price to rise until a perc

• bradleyjg 13y ago
  It would only cause monetary inflation if an equal amount of currency were not removed at the same time (through e.g. progressive taxation). Even if it did cause monetary inflation, that wouldn't necessarily lead to price inflation (depending e.g. on the slack in the economy). Even if there was price inflation it would likely not be uniform across goods and services. In short, while it would be possible to design a self defeating basic income program it is not inevitable. That said, I prefer the employer of last resort scheme being pushed by the Australian MMT crowd.