The underlying sentiment behind a universal basic income is that if the government provides a base income, it will lead to more robust economic growth. In 2020 and again in 2021, the U.S. Government implemented a limited form of UBI by sending $1400 checks to households. The result was unsurprising. While those checks did lead to strong economic growth, they also created a surge in inflation, essentially wiping out the stimulus’s benefit.
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129 sats \ 1 reply \ @grayruby 9 Aug
I expect many more trials, tests and failures of UBI experiments in the coming decades.
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50 sats \ 0 replies \ @Undisciplined 9 Aug
There's a version of UBI, that could be used to unwind the entitlement programs, which might be worth trying out. I've been meaning to write it up as an ~econ post.
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57 sats \ 0 replies \ @TomK 9 Aug
the left will also spin this dialectically for themselves, along the lines of: communism has never worked, just because we have never applied it properly. it's always the same thing
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43 sats \ 1 reply \ @JesseJames 9 Aug
It is worth repeating...
“The problem with socialism is that you eventually run out of other people's money.”
― Margaret Thatcher
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21 sats \ 0 replies \ @siggy47 OP 9 Aug
I love this quote. England needs to pay attention to those words now.
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43 sats \ 0 replies \ @iam_jerry 9 Aug
Money is not leaves that you can just plug from trees and share to everybody. There's no such thing as free lunch. You can't seperate money (i.e., sound money) from work. Value needs money.
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43 sats \ 0 replies \ @kepford 9 Aug
Several cities in my state are trying it or have tried it. I haven't really followed up on them.
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0 sats \ 0 replies \ @Satosora 10 Aug
The stimulus checks would be counted as ubi?
I thought it was trump trying to show he cared?
Thats why he signed each check personally.
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