think of it... all these homeless ppl begging for money, if there was no minimum wage, someone might at least give them a job sweeping the street or some very low paying job which would be an improvement to their state now

but as of now they are difficult to employ

having non-zero is a hell of a lot better than having zero

i think the toughest candidate dems could pick is yang

he's the only one not talking about identitarianism race/gender stuff

Yeah deflation is good

he's almost like bernie was in 2016 before he fell into the left identitarian narrative

or in 2015 idk

a trump vs. yang debate

i don't think that he will be picked though.

ya

The idea is that being poor and begging for a job and receiving a very low-paying job under a completely deregulated economy is not preferable to having “free” money on hand to counteract any loss of jobs from forces beyond your control

And @sɪᴅɪsɴᴏᴛʜᴇʀᴇ you’d probably freak out at this idea but I’ve been considering the merits of QE4P (which is now my nickname), which would mean direct money supply injection alongside or instead of interest rate targeting by the Fed

That during, say, an economic downturn, the Fed could send every citizen a check for some reasonable amount of new money in order to counteract money supply contraction

It could then be free to raise interest rates and reduce/call in loans later when growth is restored

i am not sure the negative effects of having this "free" money would be outweighed by the good

we can see for instance minimum wage is almost useless

and at worst a job killer

i would like socialism to work, but i don't think it does

that said i do think a social safety net is required but i would like to see it minimized/reformed

The negative effects would be mostly inflation, so it would have to be limited during times of higher inflation

i think the burden is on the proponents of this to prove it will work. we have seen time and time again socialism destroy countries. ubi has never been tested on a mass-scale for long periods. the study in finland was unable to show their hypothesis was true

i do not want america to be the guinea pig, if other countries want to try it, in europe, go for it

and we need to reform welfare laws now

it seems our welfare laws discourage two-parent households

lol "mostly inflation" like that's negligable, just inflation. inflation is a killer. at best it nullifies your policy, at worst it destroys the economy

the problem in venezuela is inflation

Yes; however, the current low-inflation/low-growth environment likely needs a change in policy to fix

And a UBI would encourage two-parent households since it doubles your combined UBI

The problem with Venezuela was that they printed too much money compared with their productive capacity

If increasing money supply leads to demand still below production capacity, inflation won’t become cyclical

andrew yang's version of ubi says you can keep your existing welfare

if you prefer that

i'm sure there are some versions of ubi that make more sense than our current welfare system

well, maybe

a critisism of ubi is that if you replace welfare with ubi, that it takes away from those who actually can't work and need it the most

if you keep welfare and add ubi on top of it that seems incredibly expensive

i just don't see a problem to be fixed, what is the problem to which UBI is the solution? we can reform welfare

low-inflation-low-growth enviornment? huh? isn't the economy doing great?

Visitor that is a recipe\ for disasters, QEs are horrible

@Eno_ UBI might be as bad as a minimum wage