Re:Elon Musk thinks universal income is answer to automation...
by formula1 on Sunday November 06, 2016 @11:12AM
(#12885697)
The reason the poorest amoung us doesnt drive the economy is because they have no money to spend. Why would a business pwner accomadate for an individual that would cause sognificantly less profit margins.
However, when the value of USD is considered the same. But I know that _every single_ person in american can buy muy product at current price and higher. I will certainly bump it up. High until I hit a maximum where profit margins dip then settle.
Health insurance is caused the Skrelli fiasco and epipen fiasco. Probably more to come.
Universal Income sounds like a great idea from a naive perspective. But the real issue is there arent other solutions for it to compete with.
Re:Elon Musk thinks universal income is answer to automation...
by JoeAltmaier on Monday November 07, 2016 @12:01AM
(#12888917)
Supply and demand determine price for many consumables. Neither changes when folks have more money in their pockets. It doesn't even begin to make sense.
Its easy to play a game of FUD (fear; uncertainty; doubt) but the answer is None of the Above. A BI will change things sure. But so did pensions, and insurance, and retirement plans. They didn't bring the economy down in flames; neither will a BI.
Remember the spending of the poorest among us does not drive the entire economy. Wages will change, a little. Prices will change, a little.