I love the intent behind UBI, but second-order consequences seem seldom to be considered.
For example:
If we give everyone $X, where is the money going to come from? Taxes from people making > $X dollars. But, how would those people have utilized that money, if they _weren't_ taxed? Perhaps in ways much better than its utilization for UBI, which leads to a net loss on balance for most.
If we give everyone $X, what is that going to do to low-income work? Say a person, previously could only get a job _making_ $X / month. Their incentive to work is now diminished. We may _think_ that they will will be spend time learning / etc, but this is an ideal, not reality. The person would most likely _choose_ not to work. This would deprive both them and society of the value they would have produced
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> The first core component of capitalism is the understanding that when everyone performs the work they are best at, then trades with each other, everyone wins.
^ This is not quite true. Capitalism works through evolution: It simply rewards people for doing work that _other people want_, not necessarily work they are best at.
When you look at capitalism through the lens of: this is an opaque, higher-order process that allocates capital through evolution, you end up wanting to change some if it's core components less.
For example:
If we give everyone $X, where is the money going to come from? Taxes from people making > $X dollars. But, how would those people have utilized that money, if they _weren't_ taxed? Perhaps in ways much better than its utilization for UBI, which leads to a net loss on balance for most.
If we give everyone $X, what is that going to do to low-income work? Say a person, previously could only get a job _making_ $X / month. Their incentive to work is now diminished. We may _think_ that they will will be spend time learning / etc, but this is an ideal, not reality. The person would most likely _choose_ not to work. This would deprive both them and society of the value they would have produced
---
> The first core component of capitalism is the understanding that when everyone performs the work they are best at, then trades with each other, everyone wins.
^ This is not quite true. Capitalism works through evolution: It simply rewards people for doing work that _other people want_, not necessarily work they are best at.
When you look at capitalism through the lens of: this is an opaque, higher-order process that allocates capital through evolution, you end up wanting to change some if it's core components less.