Let's Talk About Universal Basic Income (UBI)

CHILD LABOR, 1871

This is in response to The Guardian article "Money for Nothing: Is Universal Basic Income About to Transform Society?". They paint a utopian future on the horizon where universal basic income is a given, and we'll all be the beneficiaries, highlighting current studies and how it is changing people's lives today.

First, nowhere do they mention the transition to such a society. Ironically, we're on the verge of a monetary shift when it's decided that such income schemes will save us all. Banks are struggling, pension funds are getting bailed out, debt is continuing to rise, geopolitical conflicts are escalating, and we're seeing governments allocating more of their capital to such causes.

We've already been through such a scheme during the COVID-19 pandemic. Money flooded the system, and everyone received handouts in some shape or form. What is the aftermath of this? Inflation, which is only getting worse. People are complaining that they can't afford basic livelihoods, and workforces are demanding a greater slice of the pie.

Money is like a balancing act. It flows to areas where people demand to exchange it. If demand outweighs supply, then prices will naturally rise to curb this. If everyone gets a free basic income, the scales will still change, and people will use their money for capitalist values.

Where does this money go? Food, housing, utilities and such. All basic needs. However, someone is always going to be the beneficiary in the end. If you're paying for a mortgage or rent, food or electricity. In the end, the money will flow to the one providing such a service. Yes, there is inequality, but this isn't the solution.

These studies highlight the well-being of an individual if they get a free ride. It doesn't address how achievable a system like this is in reality.

With central banks getting closer to launching their digital currencies, it highlights the exact opposite of such a system, where you're living in a World Economic Forum future being fully controlled by a select few still.

AI is currently a pipe dream being pushed into a narrative that it'll completely provide for us, and society will just work without us having to do anything. This is far from the case; it will most likely cause more problems in the near future, like the Industrial Revolution. People will have to adjust, as always.