UBI is implemented tomorrow. Every citizen gets $1000 per month.

Landlord now knows you have an extra $1000 that you never had before. Why wouldn’t the landlord raise prices?

Now you have an extra $1000 a month and instead of eating rice and beans for a few meals you go out to a restaurant. The restaurant owners know everyone is eating out more so why not raise prices and maximize shareholder profit as always. The restaurant/corporation is on TV saying, “well, demand increased and it is a simple Economic principle that prices had to increase. There’s nothing we can do about it”.

Your state/country has toll roads. The state needs money for its deficit. UBI is implemented and the state/country sees it as the perfect time to incrementally raise toll prices.

Next thing you know UBI is effectively gone because everything costs more and billionaires keep hitting higher and higher all time net worth records.

  • SpaceCowboy@lemmy.ca
    1·
    2 years ago

    If you cap rent, you have housing shortages. If you cap interest rates, you have out of control inflation.

    It seems UBI is a product of people on the left buying into the supply side economcis theories which hinge on the idea the work is meaningless and it’s only through a largess from the wealthy that people have money. This is a competing idea within the flawed supply side economics framework where UBI is a proposed way to have people receive a largess from the government instead of from the wealthy.

    Everything you consume comes from someone doing work somewhere. Those minimum wage jobs don’t exist because companies are being charitable. They exist because there’s work that needs to be done. They’ll tell you that they’re “job creators” and those jobs would be eliminated if minimum wage were increased, but that’s all a lie. UBI leading to some Star Trek paradise is another lie meant to distract people.

    Increase minimum wage, form more labor unions, and working conditions will improve. There’s known solutions to these problems, we should implement these solutions instead of the solutions proposed by wealthy people like Andrew Yang.