Re:Universal basic income seems to improve employment and we...
by tonyedgecombe on Monday August 24, 2020 @04:40AM
(#24258608)
Only when supply is constrained.
If a grocer tried to double their prices then their competitors would out compete them.
Property in SV might be a different matter although I’m guessing this is going to be cost neutral for most people there or even negative.
Of course they should, and they would. It's really econ 101. More demand = higher prices. Why wouldn't it?
If you were selling apples for $1/kg, and you have it sold daily very rapidly, wouldn't you try to make $1.1/kg? $1.2/kg? $2/kg? Until you can't sell everything you produce, or, more precisely, until you can't make more profit.