If You Think Basic Income is “Free Money” or Socialism, Think Again - Deepstash
Countering The Great Resignation

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Basic income is fuel for markets

Saying basic income is socialism is as absurd as saying money is socialism. It’s money. It’s all it is. What do people do with the money? They use it in markets. In other words, basic income is fuel for markets

Markets are a wonderful invention that serves to calculate via a massively distributed computer comprised of people, what goods and services should be made, using what, going where, by whom, of what quantity, etc. It’s an incredible act of decentralization built upon supply and demand signaling.

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Buying is like voting

When someone has money and wants to buy something, that is a demand signal. Businesses meet this signal with supply. Basically, buying is like voting. 

We vote on what we want using money as our ballots, and we do this over and over and over again, every day. Now imagine someone has no money in a system built around markets. How do they vote? They can’t. The market thus confuses this lack of a vote as a “no” vote. This means markets containing people who don’t have enough money to signal their demand can’t function properly.

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CURATED BY

jamieal

Engineer in biomedical

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