The guaranteed income movement is the logical next step to eradicating poverty by making it illegal.
The enormous bureaucracy devoted to redistributing wealth to those who have not earned it is overburdening in its requirements, paperwork, exceptions, logistics, etc - if you’re going to have a pervasive welfare state, then may as well just send everyone a check for “poverty line” income so nobody is left out and everybody has no excuse to be “poor”. Simple, straightforward, logical.
Except that by doing so they’ve devalued the poverty line. Everyone having that income means prices will rise to limit demand for limited goods/services. Raise the GBI check value, and prices will rise more. Spreading the wealth around doesn’t mean availability of what that wealth purchases will increase - it means prices will rise to limit demand.
“Everyone having that income means prices will rise to limit demand for limited goods/services. “
I don’t think so. In developed countries there are very few people that do not already receive the equivalent income being discussed, they already have this disposable income, its just that at present they are working for this income.
The consumer demand differential should be very small.
That is, assuming that a horde of third-worlders is not invited in to partake in the guaranteed income.