Re:Stockton extends its monthly $500 UBI payment experiment
by jopsen on Tuesday June 02, 2020 @03:54PM
(#23395587)
> What's stopping prices from rising accordingly?
I'm still on the fence about UBI. But many of the things poor people would buy with this money is: food, clothes, ordinary household supplies, electricity, phone subscription, internet, etc.
Today, many of these things aren't necessarily priced based on supply/demand, at-least I rarely see prices fluctuate. I assume because our hyper-industrialized/semi-automated countries we can easily manufacturer as can be sold.
So instead stuff is priced based on what the _targeted customer segment_ is willing to pay. Hence, prices might not go up just because the customer segment grows in size.
I'm still on the fence about UBI. But many of the things poor people would buy with this money is: food, clothes, ordinary household supplies, electricity, phone subscription, internet, etc.
Today, many of these things aren't necessarily priced based on supply/demand, at-least I rarely see prices fluctuate. I assume because our hyper-industrialized/semi-automated countries we can easily manufacturer as can be sold.
So instead stuff is priced based on what the _targeted customer segment_ is willing to pay. Hence, prices might not go up just because the customer segment grows in size.