Free Money: Universal Basic Income

in economics •  7 years ago 

FreeMarketology, an independent podcast, providing contrarian economic commentary.

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Suggested Readings:
The Prince by Niccolo Machevelli
AfterShock by Robert Reich
The Tanning of America by Steve Stoute
The Death of Common Sense by Phillip K. Howard

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7 years ago by

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      ·  7 years ago (edited)

    This reminds me of socialism and communism and redistributionism and Marxism and Stalinism and Leninism.

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        ·  7 years ago 

      Every kid in high school should have to help build houses .

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          ·  7 years ago 

        Maybe but it maybe something necessary in the future.

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            ·  7 years ago 

          Give everyone 50k per month .... it will help with the bitcoin price !

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              ·  7 years ago 

            You make a good case, and cover a lot of bases. Since your heavily leaning to free market it is good to recognize that minimum wage has, slowly, over many years, made the American wage elevated above the average global wage. If there was no minimum wage the American wage would be more competitive on the global stage. Most of our factories wouldn't have moved to other countries and we would have more jobs.

            The thing about automation is that in the end we can't trade tangible goods with robots. We have to trade goods, products and services among people, so we will always have a comparative advantage in trading with people instead of robots.

            UBI is a problem in that whatever you subsidize you tend to make more of. If your subsidizing people not working, you will tend to get more people not working. This leads to more people relying on the government, and a expansion of government power.

            Good stuff man, keep it up.

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