Universal Basic Income Study

[tuckerwphotography]

Love the concept of UBI but have two questions about it:

1. I’m not an economist so sorry if this is a dumb question, but if everyone gets free money wouldn’t the entire currency inflate and prices of goods would increase to match the increase in capital people have? If so, how to address this?

2. Our government hasn’t even figured out nor agreed to have medical care for all Americans. How likely is it that the federal government could implement UBI in a way that doesn’t blow up the federal budget by trillions without a major reshuffling of our national values and expenditures? Perhaps UBI is most realistic as a state-by-state measure until enough of the population comes on board and then it scales up federally?

[Girzo]

On 10.03.2021 at 5:14 PM, tuckerwphotography said:

I’m not an economist so sorry if this is a dumb question, but if everyone gets free money wouldn’t the entire currency inflate and prices of goods would increase to match the increase in capital people have? If so, how to address this?

Only if the system has maxed out its output already. If there are unemployed people, underutilized machines, warehouses, factories not used at 100% capacity, then we can all just start to produce more. Still, some inflation would happen, as people would want more of the stuff that can't be expanded or stuff from foreign countries, too. But that inflation doesn't have to mean something bad to a normal person. If the structure of the economy is such that they own little and are in debt, then they benefit from inflation.

The real problem is a predatory increase in prices, for example, landlords increasing rents immediately after hearing news of implementing UBI in the country, taking that profit for themselves. It's all complicated and run by greed. The real solution is to make people more conscious and less selfish, not UBI or anything.

[Gidiot]

Ubi would make people less selfish and would probably reduce crime and increase creativity that alone is enough for my vote.