Re:Basic Income: Unintended Consequences
by dllthomas on Monday February 15, 2016 @07:39PM
(#11107143)
The salaries for jobs that nobody is going to want to do are going to have to climb, or we're going to need to automate those jobs. But if that's unsustainable and we approach hyperinflation, we quickly get to a circumstance resembling no basic income - at which point, people will start to be (economically) forced into doing those jobs again.
This is assuming we don't raise the BI in response to inflation. We shouldn't do that. (Matching or slightly exceeding targeted inflation seems a good idea; raising in response to observed or expected inflation seems potentially disastrous).
This is assuming we don't raise the BI in response to inflation. We shouldn't do that. (Matching or slightly exceeding targeted inflation seems a good idea; raising in response to observed or expected inflation seems potentially disastrous).