One of the Major Problems with Universal Basic Income, The Power of Centralization (UBI)

submitted by salvia_d from youtu.be

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[–]SierraKiloBravo 3 insightful - 1 fun3 insightful - 0 fun4 insightful - 1 fun -  (3 children)

One thing I have not heard people talk about when it comes to UBI is that surely if people get an extra, say, $1000 a month, surely with inflation and businesses knowing that people have extra cash, prices would slowly creep up. How long before $1000 is not enough and has been inflated / priced to the point where it makes no impact and people are back to square one?

[–][deleted] 1 insightful - 2 fun1 insightful - 1 fun2 insightful - 2 fun -  (2 children)

use price controls to eliminate inflation

[–]cant_even 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (1 child)

All price controls have ever done is stagnate supply. Look at the "rent control" meccas of SF and NYC; there's little housing available.

[–][deleted] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

supply stays same irregardless. only so much raw materials and manpower on earth, yes we can run out of it. if price controls are instituted, meaning can only sell a product for a certain price, the ultra rich can stand to make a few less billions. in NYC there is lack of housing available not due to rent control which controls a small amount of apartments, it has a finite amount of land.