Universal basic income (UBI) has supporters across the political spectrum. The idea is that if every citizen received a payment from the state to cover their living costs, it this will allow them the freedom to live as they choose.
But voters who turned down a UBI pilot in a recent referendum in the German city of Hamburg apparently found something to dislike. A frequent argument against UBI is that recipients will decide to work less. This in turn will make labour (and consequently labour-intensive products) more expensive.
Indeed, a recent study on a UBI experiment has found that recipients of an unconditional monthly transfer of US$1,000 (£760) were significantly less likely to work. And if they did work, they put in fewer hours than a control group who received only US$50 per month.
That’s not what I said. I said inflation will just eat up any standard of living gains you think you will make.
The problem of poverty isn’t solved by more “money” - it’s solved by moving beyond the economic/systemic model which creates poverty and inequality in the first place.
I think you have a misunderstanding here. Theres no “more money”, its tax money that already exists. Its not printing money, its simply a shift from top to bottom.
This part cant be true. How much inflation do you think UBI would cause? Like 100%? That would mean a household with an income of 4000$ and 2500$ spendings per month would not be able to afford their current lifestyle because they would need 5000$. Doesnt seem realistic.
But even in that scenario, people who lived off of 300$/month before would have 1300$ while their spendings would only increase to 600$. Thats definitely a gain.