Re:Outsourced Jobs Are No Longer Cheap, So They're Being Aut...
by lmm on Thursday October 09, 2014 @05:55AM
(#8431492)
> how these monies will be collected
No different from current welfare programs.
> what rationale there is for distributing it
Because it's right. Because the marginal utility of money is much higher for the poor, and because inequality is inherently harmful over and above the effects that low absolute wealth has on the poor.
> why it won't be inflationary
Even if it is inflationary, basic income can't fail to reduce inequality, because money is fungible. If we go from a world in which A has $1 and B has $0 to one where A has $2 and B has $1, we go from A getting all of the resources to A getting 2/3 of the resources and B getting 1/3 of the resources.
That said, the argument is that basic income increases productivity by a) improving the marginal incentives for people to start working or work more hours b) increasing consumer demand
No different from current welfare programs.
> what rationale there is for distributing it
Because it's right. Because the marginal utility of money is much higher for the poor, and because inequality is inherently harmful over and above the effects that low absolute wealth has on the poor.
> why it won't be inflationary
Even if it is inflationary, basic income can't fail to reduce inequality, because money is fungible. If we go from a world in which A has $1 and B has $0 to one where A has $2 and B has $1, we go from A getting all of the resources to A getting 2/3 of the resources and B getting 1/3 of the resources.
That said, the argument is that basic income increases productivity by a) improving the marginal incentives for people to start working or work more hours b) increasing consumer demand