Why would you expect inflation? All sane UBI proposals don't create money, they just move money from rich people to poor people. If you're a Friedman disciple, then "inflation is a monetary phenomenon" and we can stop there.
If we're moving money from rich people to poor people, perhaps we'll see the prices of stuff rich people buy go down and the prices of stuff poor people buy go up.
The vast majority of stuff poor people buy is demand limited, not supply limited, so if poor people start buying more PS4's, Sony will just make more.
I'll also assert that food is demand limited, we have lots more capacity to increase production than people think. It doesn't matter though; the problem with poor people in the United States is that they eat too much, not that they eat too little.
The only thing that might see price movement is housing. That's definitely supply limited in many places. But maybe UBI will encourage people to move from high cost areas where UBI isn't sufficient to live on to low cost areas where it is. And movement will only happen in the margins -- most of the poor in the States already have a place to live, so demand shouldn't increase that much.
If we're moving money from rich people to poor people, perhaps we'll see the prices of stuff rich people buy go down and the prices of stuff poor people buy go up.
The vast majority of stuff poor people buy is demand limited, not supply limited, so if poor people start buying more PS4's, Sony will just make more.
I'll also assert that food is demand limited, we have lots more capacity to increase production than people think. It doesn't matter though; the problem with poor people in the United States is that they eat too much, not that they eat too little.
The only thing that might see price movement is housing. That's definitely supply limited in many places. But maybe UBI will encourage people to move from high cost areas where UBI isn't sufficient to live on to low cost areas where it is. And movement will only happen in the margins -- most of the poor in the States already have a place to live, so demand shouldn't increase that much.