| > Greater return than what and to whom? Greater return for the government paying for a UBI, compared to not paying for a UBI. > We already have existing labor markets that are very capable of determining returns. I'm not sure I understand how "existing labour markets" are going to solve the three things I listed: education, caregiving, and parents taking time off to look after their kids. The issue of parents being absent is that it results in negative externalities: crime rate, an alienated society, low literacy rates. The existing labour market is great at placing parents into a job efficiently, but it has absolutely nothing to do with keeping their kids out of prison. Nor should it, really, because externalities are a government-level coordination problem. When it comes to education, the issue is again a coordination problem. Companies might do some training, but they generally prefer to foist the risk off onto employees, other companies, and governments by hiring people who are already educated. Again, this is a coordination problem, because any individual company that skips training and just hires educated workers directly will be more efficient, but those educated workers have to come from somewhere. I will concede that it's more efficient not to take care of the elderly. I question whether it is desirable, however. |