[aiyodev]

Also, has everyone forgotten that, until relatively recently, half the population stayed at home to raise children, cook, and clean the house? Going from one-paycheck homes to two-paycheck homes and letting daycare raise our children hasn't made us wealthier, happier, smarter, or healthier.

We should allow UBI to take us back to the way things were before but without the gender discrimination. We should be encouraging fathers and mothers to spend more time looking after their children, not telling people their labor has no value unless they're contributing to GDP.

[aww_dang]

Isn't it price inflation which created the necessity for many families to have two or more incomes?

UBI will naturally create more of that same price inflation, especially for the goods and services which those who would benefit the most from it consume.

[devdas]

That would be the minimum wage not keeping up with inflation. A UBI would reduce the drain on society that employers who underpay their workers cause.

[aiyodev]

UBI does not cause inflation.

[varjag]

Any unbalanced money supply causes inflation. This ultimately puts a practical cap on how high UBI can be in a given economy.

[aiyodev]

False. Read this article:

https://medium.com/basic-income/wouldnt-unconditional-basic-...

[varjag]

Need a whole lot more to be convinced that basic economic mechanism can be circumvented than someone's enthusiastic Medium blog.

[aiyodev]

That's Scott Santens. Not just a "someone".

[aww_dang]

An inflation of the money supply is by definition inflation. When the supply of money is increased by debt monetization (the status quo) price inflation follows. If productivity increases, all things being equal prices would have fallen and benefited the consumer.

Where are the low income people decrying cheaper mobile phone prices?

If you suggest that UBI will be fully funded by taxes, then the taxes will increase prices.

[aiyodev]

> An inflation of the money supply is by definition inflation.

Not true. Inflation refers to changes in the price of goods in services, not changes in the money supply. This is basic economics anybody who graduated high school should know.

[aww_dang]

https://wiki.mises.org/wiki/Inflation#Definitions https://en.wikipedia.org/wiki/Inflation#Austrian_view https://en.wikipedia.org/wiki/Monetary_inflation https://blogs.wsj.com/economics/2011/05/13/inflation-definit...

"Webster’ American Dictionary of the English Language, published by G&C Merriam Co. in 1864, was the first to formally define inflation as an economic term:

undue expansion or increase, from over-issue; — said of currency."

https://www.clevelandfed.org/en/newsroom-and-events/publicat...

"its original meaning—a rise in the general price level caused by an imbalance between the quantity of money and trade needs"