4 ms·

There would likely be inflation. However I would bet that it would not be to the point where the BI amount of money resulted in 0 value. Also another thing to c

There would likely be inflation. However I would bet that it would not be to the point where the BI amount of money resulted in 0 value. Also another thing to consider is the effect it would have on salaries: they would rise (and not just in an inflationary way). Since now you have people grabbing any job they can even at shitty salaries (HN crowd likely largely excluded) companies would actually have to "compete" against the BI since the pressure to take an underpaid job is relieved. Not entirely sure the system would work, but it seems more viable than the current efforts ("Let's do X again, but this time we'll call it Y!"). Great article.

saalweachter 13y ago
You'd have pressure both ways. If people are working for a combination of extra cash and personal satisfaction (as opposed to "not eating catfood under a bridge"), you could safely eliminate minimum wage and some jobs would probably be priced at close to or near $0. I can't tell you how many times I've gone to a bookstore or even library and had to fight my brain telling me to rearrange all the books in the correct order. Given unlimited free time, you'd have to pay someone to stop me. On the other hand, I'd expect unsatisfying or unpleasant jobs to pay more, since people could fearlessly tell their bosses where to put it. If I had to guess, though, you'd also have an uptick in part-time jobs, especially the shitty ones. Maybe most people don't want to be a garbage man 5+ days a week, but if the pay is good you might find quite a few people who are willing to be garbage man once a week or once a month.