[quote=FlyerInHi]Phaster, interesting article… we shall see, but I think UBI is inevitable to drive growth.
If wealth gets concentrated at the top, growth will fall and that’s bad for rich people also. Better to have a smaller share of a bigger pie than a big share of a smaller one.
I wonder automation’s impact on malls and stores as more business moves online. I would suck to live where the density is not enough to support stores.
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UBI is inevitable, but IMHO won’t happen in the USA because of the existing way the “banking” system and the USA fiscal policy system(s) are set up! In other words if a UBI in the USA is implemented, as I read the tea leaves it would somewhat parallel the central command economy of the USSR (which collapsed under its own weight of spending for military and various social programs)
when I talked to obama’s economic chair, he mentioned the price tag would be two trillion
so did some checking to verify for my self the figures, and of course everything I looked at verified his statement
UBI most likely will happen in to a greater extent in “small” advanced economies like in DK, NO, NZ and perhaps KSA because those areas have small “educated” homogeneous populations, that have diverse economies and/or a sovereign wealth fund.
FWIW the economist Tyler Cowen who wrote the book “The American Dream and the Complacent Class” stated he use to be in favor of a UBI but realized it isn’t a good idea, see the youtube video:
Tyler Cowen @52:34 to 54:03
and in another lecture Cowen mentions why there is a bi-modal distribution (i.e. an hourglass “economy”)
substitution effect (for 1%) >> income effect
in other words upper income people work more… (in general)
for lower income the “income effect” >> “substitution effect”
in other words people work less hours
(at play, there also seems to me to be various “feed back loops” driving the top and bottom ends)
