Podcasts - Watcha listening to?

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JasonL
Posts: 23251
Joined: 05 May 2010, 17:22

Re: Podcasts - Watcha listening to?

Post by JasonL » 13 Mar 2019, 09:51

It's the funding mechanism rather than the idea of UBI itself that may have some effect on the general price level. Yang wants a VAT that is pretty pervasive in the economy to capture a piece of most transactions. That would, it seems to me, create upward push on prices generally because it's a universal increase in cost structure. It would also put downward pressure on the volume of transactions that are executed as all sales taxes do, i.e. net of the tax a marginal purchase won't be worth it.

The question is what is the magnitude of the price effect relative to the magnitude of the effect of giving people money to spend. I don't know the answer to that or even how to guess it. People fond of these things are very generous as Yang is in the assumptions of demand driven growth and the power of the multiplier. I'm quite a bit skeptical about the multiplier being large and I think the the total effect of higher prices is significantly under appreciated by fans.

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Mo
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Joined: 26 Apr 2010, 17:08

Re: Podcasts - Watcha listening to?

Post by Mo » 13 Mar 2019, 10:26

Dangerman wrote:
13 Mar 2019, 09:15
Does anyone have a good explanation for why prices won't just rise to wipe out the gains of UBI? Is it because the payments are balanced against not using other safety net services?
There's a lot of stuff the money can go to, luxury and staple. So all of it will go up a little due to inflationary effects. However, it is sufficiently broad based, that it has sufficiently poverty amelioration effects. So goes the theory.
his voice is so soothing, but why do conspiracy nuts always sound like Batman and Robin solving one of Riddler's puzzles out loud? - fod

no one ever yells worldstar when a pet gets fucked up - dhex

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JasonL
Posts: 23251
Joined: 05 May 2010, 17:22

Re: Podcasts - Watcha listening to?

Post by JasonL » 24 minutes ago

JFC have you guys heard this deep cut on Alex Jones?

https://www.thisamericanlife.org/670/be ... /act-two-2

The guy is a crazy person. What I don't understand and have very uncharitable views about is ... how can there be fans of this person? Why is stupid ass conspiracy so potent a force that you just have to mouth the words at any arbitrary degree of awfulness and people jump right in there with you?

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