Re:Low unemployment isn’t worth much if the jobs barely pay
by rexreed on Sunday January 12, 2020 @02:45PM
(#22028708)
This brings up the interesting (to discuss) idea that if a UBI is implemented, there should no longer be a minimum wage as the UBI places a floor on income. In many ways the minimum wage doesn't offer benefit in an economy where the self-employed will participate out of their free will in income generation through service such as Uber, DoorDash, Etsy. Often those self-income sources generate less on a per-hour basis than minimum wage, however, since the income earner is free to stop and start at will the presence of a floor of hourly wage has no impact.
Re:Low unemployment isn’t worth much if the jobs barely pay
by shkkmo on Monday January 13, 2020 @07:37AM
(#22033875)
It seems like you could pair a gradual introduction of a UBI with a commensurate reduction in the minimum wage and slowly find the sweet spot for our current economy. It seems like this could be a good form of economic stimulus during downturns.
If anything, a UBI enables low-wage work, especially when that work provides satisfaction to the employed. It also can increase economic productivity because the labor market will be able to distribute labor more efficiently.