> I like the simple argument made here about UBI enabling efficient consumption.
If you mean this...
"Instead of continually trying to optimize supply, with diminishing returns, we need to optimize demand by giving consumers more money to spend on things they desire."
...then unfortunately it has a critical flaw: redistribution does not create wealth. If the problem is that growth is stagnating, you can't fix it by redistribution. You can only fix it by increasing wealth creation.
That's not to say that there might not be a decent argument in favor of UBI helping to increase wealth creation, by enabling more people to pursue innovations because they don't have to spend as much time and effort on basic subsistence. Such an argument might be worth discussing. But that is not the argument this article is making.
If you mean this...
"Instead of continually trying to optimize supply, with diminishing returns, we need to optimize demand by giving consumers more money to spend on things they desire."
...then unfortunately it has a critical flaw: redistribution does not create wealth. If the problem is that growth is stagnating, you can't fix it by redistribution. You can only fix it by increasing wealth creation.
That's not to say that there might not be a decent argument in favor of UBI helping to increase wealth creation, by enabling more people to pursue innovations because they don't have to spend as much time and effort on basic subsistence. Such an argument might be worth discussing. But that is not the argument this article is making.