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DU Home » Latest Threads » Forums & Groups » Topics » Activism » Socialist Progressives (Group) » Yang 2020. Let's put huma... » Reply #1

Response to yallerdawg (Original post)

Tue May 1, 2018, 08:38 AM

1. I have these questions about basic income.


Do the rules of economics I learned in college cease with basic income.

If poverty is say a level of $10,000 yr income and everyone gets a basic income of say $20,000 why doesnít the poverty level raise to $30,000? Basically everything raises up a notch right?

Also why do the rules of inflation cease with basic income? With an influx of money into the economy why donít prices rise to compensate for the increased money supply?

And where does the money come from? If we just print more money why doesnít that devalue money by lowering it purchasing power? Again why do the rules of inflation cease with this increase in money supply?

Any economists out there? If you answer my questions what is the economic basis for your answer?

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