Universal Basic Income is Capitalism 2.0

Re:Universal Basic Income is Capitalism 2.0 by afarrell on Thursday July 30, 2020 @08:12AM (#23997160)

UBI people also tend to be the same people that believe that housing costs will go down if you allow companies and non-profits to build more housing.

[ Parent | on HN ]

Re:Universal Basic Income is Capitalism 2.0 by onion2k on Thursday July 30, 2020 @08:49AM (#23997481)

Are you suggesting that increasing the supply of something doesn't push the price down?

That would be contrary to about 300 years of economic theory, so if you can prove it there's probably a Nobel Prize in it for you.

[ Parent | on HN ]

Re:Universal Basic Income is Capitalism 2.0 by bregma on Thursday July 30, 2020 @09:39AM (#23997967)

Consider price elasticity.

Increasing the supply of a good or service will only push the price down when enough of the demand has been satisfied. If the demand far outweighs the supply you're not going to see the price budge for a long long time.

This is basic Econ 101, not Nobel prize territory.

[ Parent | on HN ]

Re:Universal Basic Income is Capitalism 2.0 by meddlepal on Thursday July 30, 2020 @11:10AM (#23999070)

Better to make some progress than no progress?

[ Parent | on HN ]