...as seen on the Internet

[Capn Gus Bloodbeard]

thanks for this Dibo - I haven't actually done any reading into the basic income. Unfortunately this country has become so backwards-thinking and reactionary in many ways that I couldn't see anything like this ever happening. Maybe in days of old but not anymore.

Any idea how it affects inflation? I would wonder how much some basic goods/services would increase because they can. Even things like rent, particularly in our negative gearing economy. I wonder what other negative effects may have occurred, if any.

 

[dibo]

I'm not an economist, but I'd guess that there'd be a one-off impact (like when the GST was introduced) that would vary by category.

For some goods, people will be willing/able to spend more on the same goods, sending prices higher. Housing would be one - entry level housing and rents would almost certainly go up.

For other goods, people will have the same quantity demand but buy a different item. One good example is that people with secure living wages might be less inclined to get their appliances from Radio Rentals, but instead buy their appliances from a retailer.

For some things (like petrol prices), the move in demand isn't likely to be a big driver of price, so it wouldn't adversely affect cost of living.

One really good effect I'd predict would be that we would see a reduction of some of the 'poor choices of the precariat' like neglecting preventative health, car and home maintenance and other things that cost a bit of money but can lead to greater costs later.

When people have security of income they can set aside the money to get their car serviced to prevent an expensive breakdown later on. Without security of income, that choice is much harder to make!

 

[Capn Gus Bloodbeard]

True dat. The comments of the article you linked have a few criticisms of the article which may be worth reading. Haven't really looked but they appear to be fairly well reasoned.

 

[dibo]

http://www.sfgate.com/food/article/Burger-King-announces-Valentine-s-Day-adults-10930005.php

Burger King announces Valentine's Day 'adults meal,' complete with 'adults toy'
By Alix Martichoux, San Francisco Chronicle

Published 5:50 pm, Monday, February 13, 2017
When making plans for Valentine's Day, most couples wouldn't consider Burger King an option for a romantic night out.

The fast food chain is trying to change that in Israel, where they're offering a special "adults meal" just in time for Valentine's Day.

According to AdWeek, the adult meal comes with two Whoppers, two orders of french fries, two beers, and one romantic adult toy.

No word on what that toy might be exactly, though Burger King Israel's promotional video gives us a few hints. It shows a takeaway box with an eye mask, a feather duster, and a scalp massager.

The "adults meal" will only be available on Valentine's Day after 6 p.m. to customers who are 18 years or older at Burger King's Israel locations.

Seems appropriate. Some people would probably fancy a night getting take-away and stuffing in a whopper.