[calmchaos]

UBI benefits are quickly nullified because prices start to go up. Inflation effects everyone - not just people with cash reserves. It just radically increases government spending and debt which eventually leads to crash of currency value.

[econcon]

If prices will go up, some of the UBI receivers might want to capture that price increase by launching new businesses.

I think more serious threat comes from existence of global market. It means, the local supply does not need to react to local increase in demand but people elsewhere can capture that demand by shipping cheaper goods.

To make UBI work you possibly need to become an island or already have huge exports to offset whatever your population might be interested in buying from other countries.

This is not a fact/experiment based, it's merely a hypothesis.

[calmchaos]

If country X introduces UBI, the prices WILL go up (it's not a question of "if" - it's guaranteed). UBI will nullify itself quickly. And if everyone gets UBI, then we are at the starting point. Anyone can start new businesses even today.

Government spending goes through the roof (due to money printing) OR they have to raise taxes ridiculously high. This will make working even less appealing and people start to downshift - until they quickly realize that they can't. If you raise taxes, many companies simply move their operations to some other country -> loss of jobs.

What's worse is that due to prices going up, the businesses become non-competitive in the global market. Why would you buy product Y from country X if the price is a lot higher than in any other country?

When the export business dies, companies start to die and people are out of jobs. It's a ripple effect that goes through the entire economy.

Then it doesn't matter how much money the government is giving you because prices are high and as jobless you are quickly dead broke.

If due to introducing UBI all other social welfare support is removed, sick and disabled people start getting homeless and dying left and right because UBI simply isn't enough for them.

The final nail to the coffin is that other nations tell country X: "We don't accept your currency anymore. Pay with something else or you don't get the goods."

Frankly I'm surprised that this hasn't already happened on larger scale - UBI or not.