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RoboRev

@scottsantens I know this has been talked about before in your previous posts, but while it’s all well and good that UBI has been proven time and time again to work, even if it was implemented on a federal level tomorrow, what is stopping corporations/landlords/etc. from just increasing the price of everything to match people’s newfound income?

Going right back to where we were scares me.

9 April at 14:47 | Wall-to-wall | Open on mastodon.social
10 comments
piebob ✨
RoboRev

@piebob @scottsantens oh I didn’t know this resource existed! Thanks for linking it to me

9 April at 18:32 | Open on mastodon.social
argv minus one

@piebob

Money supply isn't what's causing today's inflation. What's causing today's inflation is price fixing and insufficient competition.

In a properly functioning economy, businesses (including landlords and grocery stores) set prices based on what their competitors will let them get away with.

In today's economy, there are no real competitors, and businesses instead set prices based on what customers can afford.

Unless and until that problem is solved, UBI won't work.

@RoboRev

9 April at 20:11 | Open on mstdn.party
piebob ✨
argv minus one

@piebob

Because I already replied to that person elsewhere in this thread. Is that a problem?

9 April at 20:24 | Open on mstdn.party
piebob ✨

@argv_minus_one fair, i had not noticed that. i retract my snark.

9 April at 21:06 | Open on metasocial.com
Tom Bellin :picardfacepalm:

@RoboRev @scottsantens to get more into it, UBI solves a "demand donut hole" problem.

Housing is the quintessential example.

A large number of people in this economy make effectively zero dollars and the primary reason is that they have no place of residence.

In a capitalist system, it is very difficult to generate housing units for these zero earners, because there is no amount of rent that they can actually afford. And it costs a non-zero amount to put new housing units on the market.

9 April at 19:23 | Open on hachyderm.io
Elizabeth Dalton

@RoboRev @scottsantens I'm not an economist, just an educational researcher/statistician, but this article seems to suggest that if the UBI is fully funded by taxes, the distribution of income becomes more compressed around the "middle" (doesn't specify mean, median, etc) papers.ssrn.com/sol3/papers.cf by raising the income of the lowest and reducing the income of the highest. This could result in inflated costs on goods and services in the middle range, but not at the lowest level, as there would be less demand there. If everyone could afford at least rice and beans and a studio apartment, and knew that there was simply no way they or their kids could be turned out to the street and left to starve, we might even see less inflationary pressure, since there is no actual shortage of most basic goods (except housing, but that isn't evenly distributed geographically). #UBI

@RoboRev @scottsantens I'm not an economist, just an educational researcher/statistician, but this article seems to suggest that if the UBI is fully funded by taxes, the distribution of income becomes more compressed around the "middle" (doesn't specify mean, median, etc) papers.ssrn.com/sol3/papers.cf by raising the income of the lowest and reducing the income of the highest. This could result in inflated costs on goods and services in the middle range, but not at the...

9 April at 19:50 | Open on openedtech.social
Magnus Ahltorp

@RoboRev @scottsantens UBI is not a multiplier, it’s a raising of the floor. The only “newfound income” is for people with no or very little income.

9 April at 21:07 | Open on mastodon.nu
Nick Taylor

@RoboRev @scottsantens

I'm not sure that Landlords can possibly be increasing rents any more than they already are.

And yes. We need to get rid of landlords.

9 April at 22:47 | Open on kolektiva.social
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