Comment by lootsauce

I used to be very excited about Universal Basic Income. Then I thought about what might actually happen. UBI will cause dramatic price inflation in response to everyone knowing that everyone is getting x amount of money. This will quickly neutralize the intended effect of UBI. It might sound great to get 10,20,40k automatically for everyone but this will have an immediate inflationary effect especially on rents and housing. Price controls would need to be enacted. This situation is untenable, either inflation or the effects of a race to prevent inflation will counter-act the intended effects of UBI. UBI is an illusion that we need to move past. You have to actually identify the why and how of the massive inequality we see in society to do something about it. UBI does not answer why or how inequality happens and is no solution to it.