After Universal Basic Income, the Flood
Until I read this I was more or less pro-UBI but this article makes some excellent points.<p>UBI essentially assumes that everyone is a rational actor and that they will not succumb to spending the basic income on non-productive things (drugs, alcohol, gambling, excessively expensive consumables, etc). This is demonstrably false, especially if individuals don&#x27;t have a day job. On an individual level it&#x27;s easy to say that people should be responsible for their own wellbeing. But as a matter of public policy, it&#x27;s just plain bad policy.<p>It&#x27;s also hard to see how that money would &#x2F;not&#x2F; be extracted in the form of higher prices across the board.<p>And the main point of the article is a very good one: what happens to all the now-unskilled labour?