Sean R. Lynch ☑️
@bob Welfare has always been about keeping the people at the losing end of the system from revolting. At least Keynes believed in keeping them from revolting by making sure there was meaningful work available. Now they're trying to make people accept our badly distorted system as "normal".
A UBI will even further solidify our addiction to debt monetization and near-zero interest rates. When consumer price inflation finally comes it will be unkillable.
Sean R. Lynch ☑️
@bob Since they won't be able to kill consumer price inflation by raising interest rates (because the government won't be able to afford the payments), they'll have no choice but to resort to price controls. And the price controls will likely focus on the kinds of things people buy with UBI, which will ultimately result in a system that looks very much like "Basic" in Abraham and Franck's "The Expanse" series.
Sean R. Lynch ☑️
@bob You'll have price-controlled UBI stores with long lines that run out of stuff by the end of the day, and expensive grocery stores where people with jobs shop.
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