> I've watched milk prices rise dramatically over the last 5 years or so.
Milk is subject to government price supports, including a mandate to purchase if market prices fall below a certain floor.
> My point is that prices will rise and find their time dependent values, in a way that will diminish the purchasing power of those you'd be attempting to help.
It's true to the extent that the long term effect of a fixed UBI will be less than you would expect based on prices at the time adopted and the inflation that net beneficiaries would experience without the UBI. This is mitigated if the UBI formula tends to grow in nominal terms (e.g., because it's tied to a revenue source which grows with the economy, or indexed to inflation) and, in any case, it requires unlikely assumptions about elasticity to have it not be a real net benefit to the nominal net beneficiaries.
Milk is subject to government price supports, including a mandate to purchase if market prices fall below a certain floor.
> My point is that prices will rise and find their time dependent values, in a way that will diminish the purchasing power of those you'd be attempting to help.
It's true to the extent that the long term effect of a fixed UBI will be less than you would expect based on prices at the time adopted and the inflation that net beneficiaries would experience without the UBI. This is mitigated if the UBI formula tends to grow in nominal terms (e.g., because it's tied to a revenue source which grows with the economy, or indexed to inflation) and, in any case, it requires unlikely assumptions about elasticity to have it not be a real net benefit to the nominal net beneficiaries.