Jordan Peterson gives his take on Universal Basic Income. Featuring Bret Weinstein.
Taken from Joe Rogan Experience #1006.
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Jordan Peterson gives his take on Universal Basic Income. Featuring Bret Weinstein.
Taken from Joe Rogan Experience #1006.
Video Source
You must be logged in to post a comment.
Is it REALLY a good idea to stimulate a destructive economy?
Agreed
The biggest problem is that most people don't understand money. Even Jordan is making a mistake here, if you give poor people money it ends up in the pockets of the rich. See money is a river, and the rich build pathways to have more money flow through them and their interest. If poor people don't take actions that increase the flow of funds it doesn't matter how much money you give them they will end up at where they were or worse, the only variable is time. So for example rich people only look to save money when they have reached a point where it is harder to earn more money then it is to save money. A wealth person would rather pay $20 to someone to cut their grass because in that 1hr they can make $1000. They buy time, with cashflow they gain form either doing more valueable activities. They then use money to purchase assets that increase cash flow (often requiring direct interactions) they follow that up with assets that gain in cash flow or value without needing direct interactions, and finally they optimize in order to save money instead of spending it using this extra funds to buy assets. Once you know that money is a river you have to learn how to channel it and then fromt there will build and at some point you will find the place where you are content. at this point you need to earn more in order to save up enough that once you stop working you still gain the same income.
And here we are, six years later after COVID, and UBI has proven to be a complete failure as people sat at home during the pandemic and collected unemployment.
It's clear that Jordan Peterson does not understand what Universal Basic Income is. The model he is appalled at already exists and leads to dependence. UBI essentially uses the progressive tax system to allow low wage earners to secure enough to survive. A lot of questions need to be answered, but UBI agrees that people need to work to feel part of the community and competent. Either way, we need to ensure there is a very low threshold for people to say "well I might as well not work at all and go on social assistance." UBI doesn't prevent this exactly, but I would argue it is better than the status quo where not only does that exist, people in the system have a disincentive to go back to work once in. UBI should be able to remove the latter scenario.