this post was submitted on 03 Apr 2024
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That's the reason why UBI and raising the minimum wage isn't a permanent solution for the working class though. They are good and provide some relief certainly, but in the end the corporations will exploit even harder, raise prices causing inflation that makes the raises unimportant, and use all that as a debate point to show that giving back to the workers leads to price raises.
Workers should still fight for raises, benefits and better contracts, but the end goal should be ending the system that gives the owners of capital all the power in the world.
This assumes the markets lack competition.
The way a UBI works is people using their new stipend to start up businesses undercutting the multi nats. And/or building up the human capital to be more able to do so, for the long game.
UBI is not a magic bullet, effort is still required.
Yep, UBI trials worked exactly because they were trials. It was just for a part of the population, so "adjusting the prices" relatively to it would have meant that the majority of the customers would have probably consumed less.
But, make it a predictable, widespread action, and the biggest corporations will immediately find a way to funnel that "extra money" straight in their pockets. Probably while being so aggressive at it that it will have the direct opposed effect to the desired one: making the 99% of people poorer.