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this post was submitted on 07 Dec 2023
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Uplifting News
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Any ubi experiment will have positive outcomes but when the bi is truly u, you will see inflation in a capitalist system. My hope is we use this knowledge to transition away from the false scarcity of our current systems.
In a Western setting, for this to work as intended you also have to knee cap billionaires with a wealth tax and break up mega corporations. No single human being needs or has any use for the equivalent of a billion dollars. Those who hoard wealth hurt economies by depriving society of monetary liquidity and productive transactions. So, they should pay for the damage they cause with progressively higher taxes. Mix this with UBI and you'll see literally no inflation and a healthier more resilient economic system where people are happier, healthier and more productive. But this is socialism or something, so the US would rather drag the world back to the stone age than to give money to a homeless person.
I agree with this. It's going to take generations to accomplish.