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RE: Unconditional Basic Income would fix a systemic flaw in markets: they can't tell the difference between a lack of demand and a lack of ability to express demand

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Unconditional Basic Income would fix a systemic flaw in markets: they can't tell the difference between a lack of demand and a lack of ability to express demand

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nleseul (54) in basicincome • 6 years ago

An excellent way of explaining the problem to anyone who understands relational databases.

The way I've always thought about it is that the market is always going to see a fourth house for a billionaire as more valuable than a house for a homeless person, even though that's not a particularly efficient allocation of resources.

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6 years ago by nleseul (54)

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scottsantens (62) · 6 years ago

Thanks! Yeah, if we zoom out and look at the point of markets as being for efficient and optimal resource allocation, what we see around us is obviously not efficient or optimal.

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chrisrice (59) · 6 years ago

That's a good point @nleseul Thank you 😊

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