Not only do we need a universal basic income but we also need major reforms to the fractional reserve way of creating money. Probably the two need to be introduced together.
Another feature of the UBI is that there would no longer be a need for subsidies to producers. Subsidies should be given to consumers instead so we can have a more efficient market.
The amount of the UBI should be based on the ratio of people to the quantity of goods and services we are capable of producing and one should not assume this is going to continue going up.
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