The first results from the biggest basic income experiment
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Re: The first results from the biggest basic income experiment
#2Poor people are usually sidled with tremendous amounts of debt. Money up front allows people to pay down debt and avoid interest. Why do people think payday loans exist?
Re: The first results from the biggest basic income experiment
#3Money flow into poor communities of course works. Relatively little money required on global scale. And they probably were given to the organization in some sort of a grant.
What happens if you do this in a major economy using it as the source of money? We know what would happen if a bunch of money were printed. What if it was taken out of taxes and crapton of government programs were cancelled? Especially long term.
Re: The first results from the biggest basic income experiment
#4The idea of UBI, to me at least, is a mind-blowing one. It’s a shame something like this doesn’t exist on a large scale already. I know I’m probably missing something important here, but can someone outline any good reasons, if any, that it hasn’t been implemented yet?
Re: The first results from the biggest basic income experiment
#5The idea of UBI, to me at least, is a mind-blowing one. It’s a shame something like this doesn’t exist on a large scale already. I know I’m probably missing something important here, but can someone outline any good reasons, if any, that it hasn’t been implemented yet?
My thoughts are there it's not a popular idea, politically. In a lot of countries, getting money "for free" is seen badly by the people who are "working their asses off for barely surviving", and politics push more the idea that "non working people are costly" and instead "we should find a way to make them work" and UBI is seen as something that would make people "lazy".
Re: The first results from the biggest basic income experiment
#6The idea of UBI, to me at least, is a mind-blowing one. It’s a shame something like this doesn’t exist on a large scale already. I know I’m probably missing something important here, but can someone outline any good reasons, if any, that it hasn’t been implemented yet?
https://www.vox.com/future-perfect/2020/2/19/21112570/univer...
Exactly what qualifies for you may mean it does already exist on a large scale or doesn't.
Alaska's UBI program gave 1.3k this year, which I'm guessing many commenters here would say is too small to be a real UBI, but it is universal and has been going for almost 50 years
Re: The first results from the biggest basic income experiment
#7The idea of UBI, to me at least, is a mind-blowing one. It’s a shame something like this doesn’t exist on a large scale already. I know I’m probably missing something important here, but can someone outline any good reasons, if any, that it hasn’t been implemented yet?
In a certain way every country with taxes and good welfare system has an UBI, the difference is more of an implementation detail.
Re: The first results from the biggest basic income experiment
#8The idea of UBI, to me at least, is a mind-blowing one. It’s a shame something like this doesn’t exist on a large scale already. I know I’m probably missing something important here, but can someone outline any good reasons, if any, that it hasn’t been implemented yet?
It’s cost. Multiply population by the amount and you get a huge number. The math only works if you get rid of a lot of others social programs with vested interests.
Re: The first results from the biggest basic income experiment
#9The idea of UBI, to me at least, is a mind-blowing one. It’s a shame something like this doesn’t exist on a large scale already. I know I’m probably missing something important here, but can someone outline any good reasons, if any, that it hasn’t been implemented yet?
It already does exist in some places in the form of sovereign wealth funds, such as the Alaska Permanent Fund [1].
Re: The first results from the biggest basic income experiment
#10The idea of UBI, to me at least, is a mind-blowing one. It’s a shame something like this doesn’t exist on a large scale already. I know I’m probably missing something important here, but can someone outline any good reasons, if any, that it hasn’t been implemented yet?
Monetary supply is finite for all who aren't members of the ruling class.