I haven’t starved yet. I know from experience that if I get calorically restricted for too long, I will do anything to fill my stomach. So fortunately, it hasn’t got to the point where my morality starts to degrade yet.
Then maybe our source of money should be that production, and not the personal wealth of billionaires?
Like, if you make a car that runs on diesel, and there’s a gallon of diesel in the world, you’ve made a car with 1 gallon of fuel.
If you make UBI that runs on the contents of billionaires’ bank accounts, and there’s three months’ worth of money in those bank accounts, you’ve made UBI that works for three months.
There is also a reasonable assumption that taking away people’s money would result in a decreased expected value from future money, leading to a decrease in the motivation to produce that we currently enjoy.
Let’s say a person goes from having nothing to having $1M in the bank. How does a person do that? Well, in a free market they do that by providing $1M worth of value to other people.
Should that person, who we know is capable of providing serious value, go on to try to have two million? It would be good for our society if they did, so we’d better hope they do.
But if our history includes a day when all the billionaires had everything taken from them, this means that they now have to ask themselves if there’s any danger of going over the threshold, become “evil” in the eye of society, and stripped of their rights.
Suddenly being rich is quite dangerous. It alters the incentives. Assuming a very straightforward connection between potential reward and motivation, it could be very bad for the economy to liquidate the richest people’s accounts.
The inflation isn’t “fake” and it’s not a result of greed. The greed has always been there, during periods of hyperinflation and during periods of stability.
The thing that changed is the competition, which naturally counterbalances the greed, has been reduced during the pandemic.
There’s a point where it’s time and experiences that are more valuable than the money
I think what you mean is there’s a point where free time and experiences are more valuable than food and shelter.
Money isn’t balancing against these things. Money is the thing the brings you things of value. It’s not Money vs Y. It’s money spent on X vs money spent on Y.