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Re:Universal Basic Income is Capitalism 2.0 by AnthonyMouse on Thursday July 30, 2020 @03:52PM (#24002217)
The argument that a UBI would cause a significant amount of inflation continues to be nonsense. Necessities do not have perfectly inelastic supply and would not be consumed in significantly larger amounts than they are already. The large majority of the US population already has access to food, shelter and medicine and pulling the remaining <10% of people into the market is not going to cause hyperinflation. There is a pretty good guess that it could relieve a lot of the existing regional high prices by making it more attractive for people to move into lower cost of living areas and use the UBI to offset the lower average wages there, until enough people have done so to bring down the already existing high costs in major cities.

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