Message from @Leo (BillNyeLand)
Discord ID: 554309324026150912
if you increase minimum wage, you will increase the rate of automation, you will accelerate the communist dyst/ut/opia
alternatively, we should let the market figure out the new types of labor that come about from the new technology, at whatever their worth, and not interfere with minimum wage as it may well be less than that
the more we interfere in the economy, the more *we need to interfere*, look at venezeula
and its a downward spiral
one measure causes problems so introduce new measures to fix the problems etc. everything goes to shit
Yeah minimum wage is bad
i'm arguing for not touching what we have. i wonder would happen if we just removed it though.
if it ain't broke though... idk
maybe we'd see deflation?
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