It fosters dependency, and it’s an economic-political death spiral. People on UBI vote for those who support higher UBI. Inflation increases due to increased monetary velocity. People demand higher UBI due to cost of living increases. Votes go to those who promise higher UBI, etc. The cycle continues until you’re wiping your ass with currency or some form of CBDC is implemented to stop the bleeding.
Denver experimented with giving people $1,000 a month. It reduced homelessness and increased full-time employment, a study found. (www.businessinsider.com)
cross-posted from: lemmit.online/post/1021018...