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RE: A Novel Take on Basic Income
I think UBI is a very nice notion, but you’d have to plan for all kinds of adjustments and may end up with bigger problems because of it. It would lead to massive inflation unless properly prepared for. Rent control would be neccesary for it to work but you may also have to put set prices on food and other neccesities. Small luxuries like plane tickets may become unaffordable for most people. Basically companies would rush to raise prices if they saw people had the money.
Im still watching though as I comment though, let’s see if he addresses any of these.
These are the very objections I've always had about UBI. That's why I focused this more on the rationale for it not being exploitative in terms of where it comes from (his argument on getting it from corporations) and the feasibility of funding it (my argument on cutting military spending).
But I've always said, if you give everyone $1,000 more per month, within a few years everything will just cost more to where it consumes $1,000 more per month. In practice, my approach to helping others get something like UBI has been teaching people how to develop passive income, which is what has allowed me to retire so early.