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Re:Cities Experiment with Remedy for Poverty: Cash, No Strin... by sandworm101 on Tuesday September 29, 2020 @09:25AM (#24627515)
>> This is the first lesson of economics.

Ya. Lesson #1, not the final lesson but the ABC lesson taught to people who are just starting to learn. Later lessons will cover price concepts that make lesson #1 less relevant, such as that in realworld economics people are not all treated identically. Application of identical rules to all earners generally does not end well. That's why progressive taxation is a thing. A simple extension of progressive taxation is progressive handout/benefit schemes, money for the poor but not also to the rich. But that is probably lesson #10 or #12 and we are still on #1.

Re:Cities Experiment with Remedy for Poverty: Cash, No Strin... by lukevi on Tuesday September 29, 2020 @09:40AM (#24627660)
It misinterprets Lesson #1 even.

A city is not printing money, and has no ability to increase the money supply. There's no chance a local program like this leads to inflation.

Re:Cities Experiment with Remedy for Poverty: Cash, No Strin... by colinmhayes on Tuesday September 29, 2020 @10:30AM (#24628262)
It conceivably raises velocity which would lead to inflation.
Re:Cities Experiment with Remedy for Poverty: Cash, No Strin... by rvnx on Tuesday September 29, 2020 @12:25PM (#24629778)
What if everybody gets basic income to cover basic needs (housing / food) and then can do work, to unlock extra-money ?

Whether they work or not, they benefit from the situation.

I'm still concerned though, that landlords, seeing that everybody has 1000 USD / month in the pocket, that they raise prices by 1000 USD :|