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Yes, having more to lose can make people more cautious. But if you're worried about money's effects on the poor then you should be even more worried about its effects on the middle classes and the rich, since they have even more to lose, right?

The idea that the poor can't handle money or would somehow be better off without it is silly paternalistic thinking of the sort that basic income is supposed to do away with. The income streams we're talking about are pretty modest and all the evidence so far is that most people can handle it.

Its effects on inflation are overblown too. Other than real estate, we're not seeing much in the way of inflation. And on the margin, an income that's not tied to a job makes it easier to move to cheaper places. (Why do you think so many retirees live in Florida?)




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