Tim Knowles
1 min readJan 3, 2021

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I know this is only a short essay but somethings need elaboration.

UBI will or won't cause inflation, that depends on where the money comes from to fund it and the underlying fiscal and monetary policies that are enforce.

Economic Growth is too gross a measure and should not be a goal. Improved standards of living, less people suffering hardship and more people living happily should be the goal and we need to start measuring those things instead of Economic Growth. Economic Growth that benefits only an elite few and increases income inequality is bad, undesirable, just plain awful.

If GDP dropped but fewer people had to do without that would be just fine. If you paint your own house it does not add to GDP but if you pay someone to paint your house it does add to GDP but in both cases an equal outcome was produced. If you take a day off work too take care of a sick friend or child any lost income is a reduction in GDP but a friend's or child's welfare has been improved.

If do volunteer work it does not add to GDP but you have made probably improved someone's standard of living, reduced someone's hardship or just made someone and yourself happier. We need a measure of Gross Domestic Goodness. We seem to measure what is easy to measure not what is important.

TEK

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Tim Knowles
Tim Knowles

Written by Tim Knowles

Worked in our nations space programs for more than 40 years

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