Universal Basic Income is Capitalism 2.0

Re:Universal Basic Income is Capitalism 2.0 by joaomacp on Thursday July 30, 2020 @06:39AM (#23996591)

But if people stop doing those miserable jobs, salaries will have to go up, which in turn will increase the price of goods and services, therefore creating inflation.

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Re:Universal Basic Income is Capitalism 2.0 by zentiggr on Thursday July 30, 2020 @09:48AM (#23998050)

That hasn't been a huge problem as minimum wages have been raised.

In theory, yeah, sure, that is the textbook phrasing.

But the lowest tier jobs that are going to be affected is this scenario aren;t remotely close to the largest percentage of total wages, so I can't see any huge shift being induced.

UBI affects the cashflow of those making more than just subsistence money less and less, and I think that diminishing percentage is an aspect of this that gets lost in the battle of philosphicals.

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Re:Universal Basic Income is Capitalism 2.0 by regularjack on Thursday July 30, 2020 @06:43AM (#23996616)

I think it's a good thing that salaries for miserable jobs go up.

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Re:Universal Basic Income is Capitalism 2.0 by zubairq on Thursday July 30, 2020 @08:13AM (#23997168)

I agree. I think this will be the biggest gain for UBI that people doing miserable jobs may end up as the best paid people in society

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Re:Universal Basic Income is Capitalism 2.0 by fendy3002 on Thursday July 30, 2020 @06:46AM (#23996639)

I agree with inflation but not because the salary raise, but because with UBI the people purchasing power is theoretically higher so companies will just raise prices.

IMO I don't believe those people doing miserable jobs with low pays take a significant part of wage expenses, related to higher managements. If there are data about proportion of the wage we'll get more information.

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