I like this idea, and I just have one question that maybe someone more knowledgeable can answer for me.
If you give everyone an unconditional base income, won't the price of goods and services eventually rise reflect/negate this? I don't see why I wouldn't raise the price for the X I'm selling if I knew that everyone buying it now had a lot more money.
Isn't this part of why things in America are so much more expensive than those in India in the first place? The people in the article are buying food for a family on < $0.25 which in America would not even buy a single meal of the same ingredients. It's not that they're eating crappier eggs or rice than we are, but we just have more money to buy these things and manufacturers know that. How do you prevent this in the Basic Income system?
If you give everyone an unconditional base income, won't the price of goods and services eventually rise reflect/negate this? I don't see why I wouldn't raise the price for the X I'm selling if I knew that everyone buying it now had a lot more money.
Isn't this part of why things in America are so much more expensive than those in India in the first place? The people in the article are buying food for a family on < $0.25 which in America would not even buy a single meal of the same ingredients. It's not that they're eating crappier eggs or rice than we are, but we just have more money to buy these things and manufacturers know that. How do you prevent this in the Basic Income system?