I was once talking with one of my classmates and he said that in the future, there will be universal basic income implemented by entire world. I was not convinced at that time and thought he is just being stupid but given the layoffs happening and massive amount of unemployment, I am thinking about this possibility. What do you say?
I don't feel like UBI is a that great of an idea. Prices of products change toward what people earn. So when there is a standard amount of money for everyone, company's will increase prices to any amount that's still payable. That will quickly drive inflation up. I feel like it will just going to siphon money into the pockets of the super rich.