"Money is just a relative advantage in the market."
If everybody has $x, then competitive products/services will increase by $x in cost! (By "competitive" I mean those than cannot be easily scaled, like housing, education, medicine.)
But then UBI won't be needed, as all these will be dirt cheap, like phones ($50 Motorola, not $1500 iPhone).
Not true. Every single software team I have worked on wanted to hire more workers but when they are paying me $350K a year, it limits how many people they can hire. If you doubled the supply of SWEs, you'd probably have 2 175k jobs instead of the one.
UBI would work ceteris paribus, but I am with Georgism on this one: the entire UBI would be eaten by landlords.
This is literally part of Georgism philosophy.
[0] My main reason: there are countries such as Persian Gulf oil sheikhdoms where the citizens get free money or a least well paid jobs-just-in-name that someone else is actually doing, but there wasn't any explosion of personal freedom, social progress or artistic creativity there; a lot of the free money is sunk into drugs and conspicuous consumption.
[1] My next reason: you would have to exclude freshly arrived people, because if any place in the world becomes known for giving significant money to anyone for free, it will become a target of worldwide UBI tourism on an unsustainable scale. Already the people smugglers in Libya etc. are very good at presenting themselves as the "bridges" towards life in the richest parts of Europe.
The coin would use smart contracts to tax all transactions but the tax rate is less for those who hodl less money (have less in savings) and for those who spend more per month (basically giving a leg up to those who spend like the poor, i.e. spend most of their money monthly...
if you combined this w/ govt georgist LVTs I think a fair system could be devised that still has people who are wealthy, but maybe 50 million is the cap, and maybe it goes up to 60 million when the average amount of monthly carryover in accounts is 10k, or something...encouraging more money to flow down, so the caps can go up... Something like this would need to figure out something else for business accounts to get ecommerce flowing and moving in/out of the system, since businesses can easily spend a billion a day or bring more than that in...
Haven't thought that far ahead. I'm also not a blockchain dev...so outside my wheelhouse..
[*] In theory, education makes a society produce more on an absolute level -- but only in theory.
Giving people UBI is completely different. UBI is in itself a direct cure to poverty. The people receiving UBI are no longer poor at all. UBI abolishes poverty. You no longer have the issue of "the poor" anymore, as it's a category that does not exist.
UBI is like giving food to a starving person. It directly cures the starvation. It reverses the very condition of starvation itself.
Unlike the indirect approach to addressing poverty, there's no question about whether it would work. The remaining question is whether our economy depends on poverty as a negative incentive much like it depends on prison.