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RE: The Importance of Economics

in #money7 years ago

You forgot the video about Milton Friedman explaining his support for a basic income guarantee.

And no, NIT and UBI are not entirely different ideas, and he himself knew this.

So yeah, if you're into evidence-based policy centered around outcome, instead of feelings-based policy centered around good intentions, you may want to rethink your opposition to the idea of universal basic income, especially if you tend to agree with Milton Friedman.

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I didn't forget to include anything. Milton Friedman has hundreds if not thousands of videos of him speaking about various subjects over decades. If you listen to him speak about universal basic income closely in other talks, you will also hear him clearly explain that it is INCOMPATIBLE with the current lack of immigration enforcement, even of his day let alone modern levels. Additionally he addresses purely the economic aspects of UBI, not the political implications of having a population dependent on the government for survival and the negative effects that would have on "political freedom" as he has called it.

Also negative income tax and universal basic income are NOT AT ALL the same. NIT still incentivises productive behavior and does not create the same dependence but simply subsidizes that productive behavior in a very limited and specific way. I can't say I completely agree with NIT for those who do not produce either. Furthermore just because I agree with a lot of his ideas does not mean I have to revere him as a messiah and agree with every single word that came from his mouth.

Feel free to actually read my article about why universal basic income is a bad idea and debate the subject with me there.