Hi again Steve!

The key reason we use market prices is to avoid shortages and surpluses. If you stray from market prices and try to impose prices or wage rates based on some formula for fairness, you risk surpluses and shortages. And these can have very serious consequences.

You write: “It’s contradictory to suggest that you can fix the marketplace with UBI, and then say making a change to the marketplace is a fail.”

Come on now! Firstly, it isn’t logically contradictory anyway — unless by ‘a change’ you actually mean, ‘any change.’ And secondly, I didn’t make any claim that UBI would ‘fix the marketplace.’ It might, however, help.

And on the subject of apparent logical contradictions, in your original comment, you wrote: “UBI is ethical but it doesn’t fix the underlying problem of why it is needed..” This doesn’t make much logical sense. If UBI doesn’t fix the problem that it is ‘needed’ to fix, then why would it be ‘needed’?

There are many problems that UBI can help with. These problems may or may not be the ones that particularly concern you, but they are very real problems to a lot of people.

And let’s not base our economic understanding on the game of Monopoly! The fact that a UBI of $200 in Monopoly is insufficient to sustain most players in the game has little, if any, relevance to what would happen with a UBI in the real world.

And finally, if you think you have a plan for fixing our economic system, I suggest you should take some time to study Economics from the ground up. Then you’ll be in a better position to see if your ideas make sense.

All the best to you if you decide to take that option.

Written by

Tech Fan, Philosopher, Economist and Basic Income advocate. tiny.cc/RJMedStuff

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