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Elon Musk is Totally Wrong About Universal Basic Income (UBI).
Why UBI is such a dangerous gamble with society’s future & the 11 controversial consequences.
Elon Musk is totally wrong about the UBI (Universal Basic Income). UBI won’t improve people’s happiness or improve a nation's economy.
I will even say that if implemented, the UBI will cause society to collapse.
I don’t understand why Elon Musk can’t see this.
I admire Musk for his innovations and hard work, but he got this one really wrong.
Here’s why:
UBI aims to provide everyone with a subsistence-level income. At the surface level, it sounds all good and dandy. However…it can be a total disaster.
Increasing a country’s money supply is the same as printing more tickets than the capacity of a football stadium, which will not increase the number of seats in the stadium. Doing so would lead to overcrowding and devaluing each ticket’s worth.
To increase the number of seats in a stadium, you have to hire engineers, get construction workers, and buy construction materials, and only after making these investments…
