this post was submitted on 18 Oct 2023
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Do you believe in the power of the market? If I start charging more for food at my restaurant, some other guy will say, "hey, I could get his customers if I charge less, and I'll still be making a profit."
Half joking, I don't believe in just the market, but with regulation I do think it's powerful and useful.
I also think businesses raising their prices has more to do with hyping inflation and a lack of alternatives. I think we'd see a lot more entrepreneurial activity if people weren't afraid of losing healthcare or being unable to provide for themselves.
Unfortunately monopolies, duopolies, partnerships, conglomerates, and similar, across so many of the essential goods and service markets means ‘perfect markets’ where competition drives prices down, rarely exist in practice. That’s not even mentioning all the other factors which work to drive inflation, like constant demand for endless growth. UBI doesn’t solve anything. These are systemic issues which require systemic change.
UBI is meant to come from taxing wealthy people more.
Where it comes from is beside the point. It’s not a solution to reducing cost of living.