I was once talking with one of my classmates and he said that in the future, there will be universal basic income implemented by entire world. I was not convinced at that time and thought he is just being stupid but given the layoffs happening and massive amount of unemployment, I am thinking about this possibility. What do you say?
i disagree. food prices would not go up. prices are set by supply and demand. demand would not change. imagine a society with 1 million people. all of them need to eat, whether they earn their money through wages or get it through UBI. the demand for food does not change. i don’t see a reason why supply would change either. so prices stay the same.
do you have any rational argument against this?