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RE: So you think universal basic income is "free money" or "socialism"? Think again.

in #basicincome7 years ago (edited)

It didn't to Milton Friedman or Friedrich Hayek, both of whom supported the idea of basic income, and both of whom can be considered fathers of free market economics. Hayek was even from the Austrian school. If you are confused why free market economists could like the idea of basic income, that's because you probably don't actually know what basic income is.

okay, Hayek and Friedman knew that capitalism was fraudulent due to multi-levels of collusion and that the system was unsustainable because of that, and that some kind of UBI would be necessary. Hayek and friedman have lied their all life to their supporters, and the academia by the same token. Ayn Rand too was a total deception in that sense

They were NOT in favor of it but aware that free markets only work on paper, and so is UBI. Quantum computers will soon make any monetary system UNworkable.

Only the love of money and hoarding (for the rich) it leads to the conclusion that UBI (for the poor) is necessary. But since they are both lies/illusions, UBI... is same.

I have written about economics for almost 18 years, and 4 years ago I finally saw the light. Money enslaves and forever will.