| 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. |