I think the problem you are describing at the bottom of the market is why I expect UBI not to work, because it will fail to do enough to subsidize demand to move anyone up in the market, resulting in a “wealth” transfer that only serves to reduce average purchasing power.
I think the problem you are describing at the bottom of the market is why I expect UBI not to work, because it will fail to do enough to subsidize demand to move anyone up in the market, resulting in a “wealth” transfer that only serves to reduce average purchasing power.