If you think ubi is just welfare, youre misunderstanding it. For someone who now depends on welfare, it would like mean a similar income but without any of the beurocracy, shame, expectations or requirements. For everyone else its a safety net that means they choose to work and what they do. No more working by necessity. However for a nicer lifestyle work would be required.

It will lead to inflation quite quickly immediately due to supply and demand. That should instantly devalue capital assets, in real terms. It should restructure our labour markets. Currently many at the lower end of the pay scale only work by necessity to get the bare minimum. They work long hours at low pay to make ends meet. When their basic needs are met, they won’t need to work such long hours. So what will happen when millions of cleaners suddenly cut the amount of hours they work? We will pay them more per hour to make it worth their while. What about all those people who are unproductive at work and useless at their job. Well, we can fire them, of they bother to continue working as with a ubi, we don’t need the same worker protections. All industries will be dominated by those that wish to work in them and are productice…what about child care? People will choose to work a schedule that works for them and their family. We will have less need for childcare workers.

Our big issue will be having medical personnel and aged care workers, bit again we might find we have more productive, caring workers staying.

So, yes,. Its like welfare in that its a social safety net. Its the universality that makes the difference. It wouldn’t be thenrivh giving it. It would be society telling them part of their wealth belongs to all and distributing it as such.