Hello, I’m not that informed about UBI, but here is my arguement:
Everyone gets some sort of income, but wouldn’t companies just subside the income by raising their prices? Also, do you believe capatilism can co-exist with UBI?
Hello, I’m not that informed about UBI, but here is my arguement:
Everyone gets some sort of income, but wouldn’t companies just subside the income by raising their prices? Also, do you believe capatilism can co-exist with UBI?
Then I’ll move and his income drops to zero. Market forces don’t disappear just because there’s UBI.
It won’t drop to zero since someone else will come in who will give them the extra $1000 because they need a place to live. Market forces don’t dissappear with UBI, that’s why when aggregate demand goes up and supply stays fixed, such as with housing, prices go up.
Say you pay $1500 for rent and there’s another guy who pays $1200 and wants to upgrade to your apt. They get the $1000 UBI and now they have enough to bid up to $2200 for your apt. Now either you pay $2300 or your landlord evicts you to get the higher paying tenant. This percolates up and down the housing ladder from the homeless person who gets $1000 only to see rents increase to $1500 to the millionaire who now has to pay an extra $1000 drop in the bucket for there high-rise in Manhattan.
In capitalism your standard of living is determined by your ability to outbid the person on the rung below you to maintain that lifestyle. If everyone moves up a rung then nothing changes.