UBI doesn’t uplift people, again it doesn’t touch the income hierarchy which is the source of inequality, it just inflates the hierarchy.
All the previous trials were limited to a set group. If you give money to a set group then yes there position on the income relative to everyone else will increase, and thus there access to goods and services. If it is truly universal and everyone gets it then the income hierarchy remains the same, just the incomes are inflated in absolute terms. Just like if everyone got the same percentage raise in a year prices would just go up by that same percentage because the people setting the prices know you can now pay x percent more. If you give a select group of people a raise though then they can now outbid others and get more products and services.
Jeff bezos doesn’t spend most of the money he gets, it just gets reinvested into his ungodly hoard. If that money doesn’t actually get spent and doesn’t enter the economic system it doesn’t effect inflation. The lower you go on the income ladder the larger percent of your money gets spent until you get to the bottom of people living paycheck to paycheck, saving nothing. If you give those people money they’ll spend it right away, because they have to, and that will contribute to inflation.
UBI doesn’t uplift people, again it doesn’t touch the income hierarchy which is the source of inequality, it just inflates the hierarchy.
All the previous trials were limited to a set group. If you give money to a set group then yes there position on the income relative to everyone else will increase, and thus there access to goods and services. If it is truly universal and everyone gets it then the income hierarchy remains the same, just the incomes are inflated in absolute terms. Just like if everyone got the same percentage raise in a year prices would just go up by that same percentage because the people setting the prices know you can now pay x percent more. If you give a select group of people a raise though then they can now outbid others and get more products and services.
Jeff bezos doesn’t spend most of the money he gets, it just gets reinvested into his ungodly hoard. If that money doesn’t actually get spent and doesn’t enter the economic system it doesn’t effect inflation. The lower you go on the income ladder the larger percent of your money gets spent until you get to the bottom of people living paycheck to paycheck, saving nothing. If you give those people money they’ll spend it right away, because they have to, and that will contribute to inflation.