Re:Universal Basic Income is Capitalism 2.0
by dragonwriter on Thursday July 30, 2020 @08:28AM
(#23997297)
> Why wouldn't rent seekers - both landlords and more abstract rent-seekers - just raise prices?
Why doesn't every change in income level and distribution just change price levels of goods demanded by different groups resulting in no change in relative buying power? Several reasons:
(1) No one has access to idealized monopoly rents, and
(2) (relative to redistribution) Very few goods are demanded only at one point in the income distribution.
Why doesn't every change in income level and distribution just change price levels of goods demanded by different groups resulting in no change in relative buying power? Several reasons:
(1) No one has access to idealized monopoly rents, and
(2) (relative to redistribution) Very few goods are demanded only at one point in the income distribution.