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A comment on Coronavirus Is Making Universal Basic Income Look Better. Parent comment

Re:Coronavirus Is Making Universal Basic Income Look Better by aww_dang on Saturday May 16, 2020 @07:33AM (#23202584)
An inflation of the money supply is by definition inflation. When the supply of money is increased by debt monetization (the status quo) price inflation follows. If productivity increases, all things being equal prices would have fallen and benefited the consumer.

Where are the low income people decrying cheaper mobile phone prices?

If you suggest that UBI will be fully funded by taxes, then the taxes will increase prices.

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Re:Coronavirus Is Making Universal Basic Income Look Better by aiyodev on Saturday May 16, 2020 @09:45AM (#23203317)
> An inflation of the money supply is by definition inflation.

Not true. Inflation refers to changes in the price of goods in services, not changes in the money supply. This is basic economics anybody who graduated high school should know.

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Re:Coronavirus Is Making Universal Basic Income Look Better by aww_dang on Saturday May 16, 2020 @09:59AM (#23203425)
https://wiki.mises.org/wiki/Inflation#Definitions https://en.wikipedia.org/wiki/Inflation#Austrian_view https://en.wikipedia.org/wiki/Monetary_inflation https://blogs.wsj.com/economics/2011/05/13/inflation-definit...

"Webster’ American Dictionary of the English Language, published by G&C Merriam Co. in 1864, was the first to formally define inflation as an economic term:

undue expansion or increase, from over-issue; — said of currency."

https://www.clevelandfed.org/en/newsroom-and-events/publicat...

"its original meaning—a rise in the general price level caused by an imbalance between the quantity of money and trade needs"

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