Quote:
Originally Posted by Dondilion
But you still should address his argument re shrinking economy.
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Yes I did. He basically is of the opinion that the economy will shrink because of people quitting work to exist on a smaller guaranteed wage. I think not so many will do that, and they will be more than counterbalanced by those for whom the guaranteed wage is a significant increase in consumption power.
Which way it will go isn't so easy to judge without data. I favor experiments to see. The higher the guaranteed wage, the higher the stimulative power, but also the higher the incentive for fully-employed people to quit work. You'd need to find a best level of guarantee to optimize things.