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speedywilfork t1_jbqxrtf wrote

UBI can't work as it will cause MASSIVE inflation, rendering it useless. anything they would do to fix it would just accelerate the inflation until we reached hyperinflation.

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kenkc t1_jbsnhfb wrote

If UBI kicks in, it will be because unemployment is reaching catastrophic levels. So UBI may act as a counter to the ensuing deflation.

But in a future where tech has taken away most jobs, tech will also be able to mass produce housing, food and transportation for pennies on today's dollar. Another counter to inflation.

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speedywilfork t1_jbu34s9 wrote

>But in a future where tech has taken away most jobs, tech will also be able to mass produce housing, food and transportation for pennies on today's dollar. Another counter to inflation.

tech wont take most jobs. that is a pipe dream. who do you think builds and services the tech that build the houses? and creates the parts to build the tech? and digs up the ore to build the parts? and surveys the land to find the ore to build the parts? and generates the energy to be able to do all of this?

people will rule the world until their is a machine that can be powered by plant life and protein. until then tech will play second fiddle to man. the energy alone to create the future in your head is unobtainium, unless every man, woman, and child is working.

tech is only good at specific tasks. the sooner people realize that the sooner they will understand the role tech will play in the future. which is about the same as the one it plays right now.

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IronPheasant t1_jbscd53 wrote

By this kind of logic, everyone having a job or being on social security should be responsible for MASSIVE inflation.

At some point you have to realize we've long since left the ranch when it comes to the labor theory of value. In this world it's somewhere between an energy ration and a magical imaginary number driven up by a combination of rent seeking and speculation.

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speedywilfork t1_jbu1sec wrote

>By this kind of logic, everyone having a job or being on social security should be responsible for MASSIVE inflation.

what!? lol. no.

the reason UBI would cause inflation is because it would essentially set a floor for wages and also allow non productive citizens to continue to purchase. this is a recipe for hyperinflation.

so if the UBI minimum wage was set at $15 everyone making under $15 would quit their jobs and simply stay at home. However they would still have the purchasing power they did when they were working.

When all these people quit it would create shortages in the labor market, thus creating shortages in supply, thus causing inflation. this alone would cause inflation, but in order to "fix" the problem companies would have to start paying $30 per hour to incentivize people to work. this would in turn drive the price you pay up, and on top of all that, all the excess money in the system due to people that are now staying home but making money, would shortly lead to hyperinflation.

UBI wont work

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FarCut2677 t1_jc4xm7k wrote

Shortages in labor won’t be a thing when robots do all the jobs, the creation of supply will be made by bots

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speedywilfork t1_jc6td32 wrote

who makes all of those robots? and who services the robots? and who makes the parts to make the robots? and who mines the ore to make the parts?

hint: it aint robots

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