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A comment on Basic income would not reduce people’s willingness to work. Parent comment

Re:Basic income would not reduce people’s willingness to work by SketchySeaBeast on Monday January 17, 2022 @04:59PM (#29972162)
Sorry, yes, printing money leads to inflation. I was asking for evidence that "We already have a big inflation problem that is directly related to policies that rain money on those not working." is the source of a large portion of inflation instead of the multitude of other reasons that money is printed. Of the recent $4 trillion coronavirus payout, only about a fifth of that went to workers or their families[1], and even that isn't all to people who aren't working.

[1] https://www.washingtonpost.com/graphics/2020/business/corona...

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Re:Basic income would not reduce people’s willingness to work by godelski on Monday January 17, 2022 @05:34PM (#29972452)
I'm not an economist, but I do listen to a bunch of them. My understanding is that printing money doesn't necessarily create inflation, and the real story is far more complicated than that. That it also depends on things like: the overall economy, how that money is being spent, demand pull, cost push, public fear of inflation (which causes ->), how much money is circulating vs how much is being pooled (investments/into banks/under the mattress), and more.

ometimes first order approximations (or "basic principles") lead you in the wrong direction. My understanding is that economics is full of pitfalls like this.

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Re:Basic income would not reduce people’s willingness to work by kukx on Monday January 17, 2022 @05:58PM (#29972675)
The conclusion is derived from the basic principles. Of course if even more money was given directly to non productive people the prices would increase even faster!
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