I don’t know how relevant this is now, but here’s a link to another post where I expressed my thoughts on what kind of pitfalls you might most likely face – https://lemmy.world/post/36867409
By the way, what is this phenomenon on Lemmy? Let’s say people are reluctant to read and comment on old posts published just a couple of days or a week ago, but with new ones, it’s a completely different story. What kind of psychology is this? Or it seemed to me?
Yes people will work, but less people will work then they do now, that will lower productivity and therefore supply and raise prices. If you’re relying on imports from low wage countries, while your own countries productivity and therefore exports go down, then that will just increase the trade deficit. So more money will be leaving the country, increasing the supply of that currency on the international market and thus decreasing its value. Another word for a decreasing value of currency is inflation.
Again where are these products coming from. Internally they will get more expensive as wages rise, externally they will get more expensive as the value of the currency falls.
You picked the one job out of that list that people will voluntarily do. Very few people are signing up to do manual labor restoring ecosystems, building housing/infrastructure. You can say this is a mindset thing that will change once people have there basic needs covered but there are a ton of rich people who don’t work for a living right now and you don’t see them on the highway picking up trash. A change in scarcity mindset isn’t going to build a high speed rail network, labor and investment will, and UBI will make that labor and investment a lot more difficult to get.
We don’t not live a slave system we live in a capitalist system, both use coercion to extract labor from the worker but they do so in very different ways. I’d recommend you read some Marx to better understand the labor relations under capitalism. Either way a UBI system doesn’t challenge the capitalists control of the means of production and thus doesn’t challenge there true power. If anything it reduces the workers power as they can no longer use there power to withhold there labor. What are the unemployed on UBI going to do if there conditions deteriorate? If worst comes to worst workers can always strike which is devastating to the capitalist class. That is one of the main differences between slavery and capitalism, a slave can’t strike and is thus completely powerless.
fun fact on definition of productivity: Revenue/labour cost. Inflation can be either profit inflation or wage/cost inflation. In general, if wage inflation is higher than inflation, then workers are better off no matter the inflation rate. Then inflation is costing the owner and consumer classes. Another fun fact: The Federal reserve is a demonic bankster organization that strives to eliminate wage increases, under a pseudo-slavery system. Interest rates are increased to prevent new housing and other business growth to prevent more hiring to drive up wages even more.
If productivity and inflation are critical economic drivers, then we should explicitly support slavery. More whippings will make you work harder. Lower pay will reduce inflation and boost productivity. The near slavery system (you called it capitalism) is as long as there are 100 applicants for every job opening, then the system is working and under control. Adam Smith just advocated for free and fair markets, and there is still a market if there are only 2 applicants per job opening or 5 employers are coveting to hire you away from what you are currently doing.
Sure UBI will tend towards wage inflation. It doesn’t stop profit inflation either. The consumer class is both better off with more disposible income, and having opportunities to compete for idleness. They can compete with higher wage earners or ownership class. As an example, most people think UBI would increase people’s demand for more housing space. Means more profit opportunity from land/ownership, more renovation work to be done, but also empowers people with free time and UBI to qualify for loans to renovate properties themselves from youtube videos. Bottom line is if housing is too expensive from profit and wage inflation, then you will have to do it yourself, but somehow housing demand and work will get balanced, but including profit/ROI for ownership class. Markets do that very well. You will buy a plunger to unclog your toilet if all plumbers charge $1000 to do it, and then become a plumber (or toilet unclogger) to charge others $900.
if wages and profits grow by 10x, then so does tax revenue and basis to increase freedom dividends by 10x. Inflation is a market mechanism. Productivity is unimportant. Humanist economics are abundance and production, but productivity through slavery is not an appropriate path towards it. Fair labour markets are.
It does, but doesn’t have to. Capital needs cooperation in order to extract profits. The bargaining power of time and work increased by UBI means “less control by capitalists”. It can also challenge ownership class by competing with it through more lending power, and the contribution of worker time towards share of future profits instead of “guaranteed high hourly wage”
UBI is a better individual empowerment than unions. There were strikes under Biden due to a good economy even if oligarchs successfully convinced electorate that it was shit. Strikes not happening now because when econony turns to shit, more blowjobs for oligarchs instead of striking against them is path to survival. Note also, import theory of currency devaluation is proven false by Trump’s forbidding of imports. Globalization has always meant that $ are not destroyed, and circulate back to US, unless the US is a shithole and there is no reason to support its sustainability, and fewer $ to give/lend back.
Anyone who rants about inflation or productivity as an argument against UBI is ranting in favour of slavery and cannibalism. You are favouring desperation and extreme competition for survival just among the worker class.