UBI is economic nonsense.
I have no interest in accelerationism and the insanity of the #yanggang.
UBI is nothing more than a newly layered bureaucratic inefficiency meant to disguise theft as charity, ultimately leading to a rise in prices offsetting the UBI.
If you want to change the economy for peace and prosperity, you must get on board with cutting government spending, cutting taxes, cutting regulation, and freeing the market.
#taxationistheft #ubi #ubisucks #economics #austrian
If you want a more robust explanation of the 3 common UBIs, I will give it here:
1.) Redistributionism. If you take money from one group of people and give it to another, then you're messing with value creation signals and are distorting the market. Ultimately, this leads to net consumption over time as people who are not getting jobs/offering value use the money for pure consumption. More realistically in this scenario is that most people are just getting an inefficient return of their stolen money as most people outside of career government workers will have paid the state more in taxes when considering all taxes. So a lot of resources get wasted in administrating and dealing with fraud in managing the UBI system. Prices will eventually rise over time to accommodate the redistribution.
2.) Printing money. This is purely inflationary and prices will more immediately rise to offset the lack of value creation in the UBI.
3.) Resource-based UBI. This is comparable to the situation in Alaska of people getting a check for oil sold from government-controlled fields. This is the closest thing to a sustainable UBI, but it's not really universal nor basic. The division of SOME of the profits leaves people with a fluctuating amount of money depending on market prices and demand, and the total amount given out to each Alaskan is far less than the $1,000 per month Yang wishes for. It's closer to a fluctuating $200-$300 per month. This money is not enough for people to live on by any measure and, as with any resource-based givings, is only sustainable to the extent the core resource is being competitively demanded. When oil price goes down or when it isn't demanded as much due to changes in market technology, or when foreign competitors strike a better deal, the money tends toward little-to-nothing. And, worse, government control of ANYTHING misses out on competitive market signals for improvement or better uses, so that is itself a danger.
For all of these reasons considered, UBI is basically a pointless pipe-dream that largely leads to waste due to government bureaucracy, market distortion, and an eventual rise in prices that offset the value of the income.
There is one possibility for UBI based upon blockchain tech that might work without violating sovereignty and devolving into the moral quagmire of theft. Of course, there's the problem of what happens when AI becomes self aware (if it does), then UBI through this mechanism would still be based upon theft. Distributed mining protocols could be considered UBI, or self employment. Much of what humans argue about comes from not sticking to what's real due to the mental virus plaguing humanity known as "reification".