how is it supposed to work? The whole concept of UBI sounds a bit weird. I have no knowledge of it but sounds unrealistic. I am following because I am curious to learn.
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Whole concept is to give people money that allows them to live. If you search steemit, you should find that it actually encourages people to spend and do things. In countries were they have tested UBI it has led to increase in entrepreneur. I would theorize that the fact that you surely get enough for living every month makes people take risks and dis-encourages saving as there isn't risk of completely dropping out of economical system. I also have personal experience how much these "encouraging goverment support" things can put you down. They just try to force you somewhere to work and learning things your self is a no-no.
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if you give same amount of money to everybody what would happen? The cost of what people are buying will increase and no one's standard gets increased. Not sure how this could work. I am not professional in this field but my gut feeling tels me it cannot work this way. I must be missing something....
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You are missing that value is infinite, because we live in a process. Price is basically measured with supply-demand. When people get x money every month they want to spend it and that causes someone to sell for that same currency, which will create markets for that currency. Amount of money does not excactly measure a value, for example in a current FIAT-system money is just printed all the time, and still some goverments have been struggling with devalvation. If people don't spend then money becomes more spare regardless of amount of it, decreasing supply with same demand will obviously cause a devalvation.
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thanks. Need to think about it. Still not convinced. Getting tired. Speak next time.
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I still see it very conservatively. The money for me is just a mean of a transaction. The transaction is driven by demand. Creating money does not produce demand....or does it? If everybody gets the same amount the equation is in equilibrium. With my technical background where all is based on equilibrium I may find it difficult to accept...Thanks for your reply. Good luck with studies!
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