| Technically speaking , many European countries already have "Basic Income". ( France , Sweden , Norway...) They are reserved for individuals "Not Active" though ( Unemployed and not looking for a Job ) over a certain age. Those "BI" massively lower poverty , which usually massively reduce crime-rate , drugs related usage etc... With 700€/Month you aren't gonna far anyway, you have enaugh for food and rent , and that's it... For America it's different, America cannot technically afford "BI" because the entirety of the US economy has been built on having 20% of the population living under the poverty line in order for good & services to be cheap and consumed in mass. Having "UBI" in US would create a skyrocket inflation because worker who are paid 10$/Hour would drop their work and stay at home and do something that is more profitable for them. Hence , the American culture revolve almost entirely around production of good and services for happiness. In France few workers drop off the "Industrial" economy , they buy a Farm and live of "BI" and their own agriculture and go back to the city to buy commodities ( Gas , Cosmetic etc... ), it's common in Italy and Spain as well IIRC. |
Unless you have some hard data, your argument doesn't seem very convincing. The numbers could easily work out in any way, and it would probably depend on the actual amount of UBI you use, because the effect on the workforce and the spending power of consumers would be important for determining the amount of inflation. Studies are useful in situations like this.
Also, I mean, this subtly doubles as an argument against a minimum wage increase. In the same sense that a UBI might slightly decrease the workforce and lead to higher wages for those remaining (and inflation), a minimum wage increase would also. Do you have a proposed tool to increase the wages of an immiserated 20% of the population that doesn't also have the potential to cause inflation?