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A Universal Basic Income Is Being Considered by Canada's Government (www.vice.com)

submitted 1 year ago by alphacyberranger to c/world

246 comments fedilink hide all child comments

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[–] [email protected] 10 points 1 year ago* (last edited 1 year ago) (5 children)

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[–] [email protected] 7 points 1 year ago (1 children)

I am on ssi, which is as close as America has to a program like this, and I honestly don't understand how people survive without the guarantee that there's going to be money in the bank next month. I mean even if you have a job, job security is getting rare these days with all the jobs that get created being those with high turnover rates.

Walmart and Amazon are going to have to start taking people off of their hire Blacklist because they basically gone through the entire Workforce at this point.

Or at the very least drop the no felons policy, there are more legal crackdowns on those kinds of things anyway, and pretty much every human's rights advocate worth their salt is eager to point out how punishing ex-convicts by denying the access to food, medicine, and a steady paycheck, is only going to encourage them to become better criminals, when the option ultimately boils down to rob a gas station or don't eat.

Okay I am literally a published author, and that being a single sentence hurt me to write.

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[–] [email protected] 4 points 1 year ago (2 children)

Can someone explain to me how exactly doesn't every corporation raise prices pretty much immediately? Like, they know that everyone has some cash extra every month, so they just raise their prices to get it into their pockets.

This is the one part of basic income I never quite understood.

[–] sylver_dragon 7 points 1 year ago (4 children)

Because of competition. Let's say Company A makes widgets and, owing to people having more money, tries to raise prices. Along comes Company B, which also makes widgets, who recognizes that they can out-compete Company A on price. So, they either don't raise their prices as much or they keep them the same. Company A is now stuck either accepting lower sales, or lowering prices to compete. Once Company A reduces prices (because they want to survive), they put Company B in the same situation until prices stabilize at some smaller profit margin.
So basically, the exact same supply and demand curves which keep prices stable now. It's not like businesses aren't already doing everything they can to separate you from your money.

In the end, it such a system would likely lead to some inflation. With more money in the economy, there is likely to be more demand for goods. If supply doesn't expand to match the new demand, prices will go up. At the same time, increased consumer spending is often a good thing, so long as it doesn't expand so fast that it creates shortages. It may also push up wages for unskilled workers, and those positions may now be harder to fill, commanding higher wages. It may also drive even more automation of unskilled jobs, which isn't necessarily a bad thing. Those jobs are almost certainly headed for automation anyways; so, it's better for society if we get out in front of that trend and avoid having a large pool of young, unemployed and disgruntled people running amok in society. Much better to have higher taxes which are used to keep the unemployed youth at least mostly gruntled instead. But, that's bad for rich, greedy assholes who would rather walk a tight-rope of just enough bread and circuses and full on civil unrest.