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RE: Objections to Universal Basic Income

in #economics • 6 years ago

UBI is the technocratic 21st century utopian dream. This is a good refutation, although it will fall mostly on deaf ears.

People who think helping the poor requires the poor getting money don't understand the problem, and they don't understand the poor.

And totally agree on throw vs high time preference. Teaching the poor to lengthen their time preference just isn't as sexy as saying "free money".

6 years ago in #economics by
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     6 years ago (edited)

    Agree but I don’t even think we could hope to teach everyone to have the same time preference. I added to my blog:

    The generative essence of my objection to UBI is as I explain at the above link, that nature abhors highly ordered, top-down driven systems. Thus any such attempt to create such order will actually create more disorder. The general rule is it’s impossible to do just one thing. Thus nature will always force the free market of competing actors, and destroy any attempt to impart the same situation to all humans. Please read the above linked Quora post for a more detailed explanation, including some theoretical physics support for the concept.

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     6 years ago 

    I wouldn't want too much conformity with time preference either

    There is a huge amount of marketing pushing people to have a low time preference, and I think maybe some education would help some people out, at least at the margins.

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