UBI is a way to make capitalism more fair. One important fact about capitalism that seemingly everyone forgot is that competition is a requirement for it to work.
If there is fierce competition in all markets, even if everyone is getting UBI, price hikes are impossible.
It’s a fantasy though. An extremely competitive market would be nice, but in reality it would be a race to the bottom and those who started with more cash would win out, buy up or starve the competition and monopolise, giving them the extra space to be lazy and pass on profits to their shareholders, who dictate increased prices to increase their margins.
UBI is a way to make capitalism more fair. One important fact about capitalism that seemingly everyone forgot is that competition is a requirement for it to work.
If there is fierce competition in all markets, even if everyone is getting UBI, price hikes are impossible.
It’s a fantasy though. An extremely competitive market would be nice, but in reality it would be a race to the bottom and those who started with more cash would win out, buy up or starve the competition and monopolise, giving them the extra space to be lazy and pass on profits to their shareholders, who dictate increased prices to increase their margins.
That’s where you have to tax monopolies.
Monopolies will resist but it takes only some expropriations to motivate shareholders that they push for law-abiding behavior.