Comment by trod1234

Unfortunately, the paper does nothing that I can see to address the criticisms of UBI in general, such as the pivotal 1930-1950 works of Mises on Socialism.

In such an environment, those with the majority marketshare will simply cooperate and adjust their prices upwards through artificial constraint of supply, inevitably creating imbalances which result in chaotic shortfall that will need to damped, and these people do so with a plausible fallback, "we live in chaotic times". The people will need to be bailed out for the shortfall.

Cooperation prevents economic calculation, leading to the chaotic whipsaws described by Mises as the Socialist Calculation Problem.

The only way to dampen the whipsaw is through money printing, and there is a hard upward limit to money printing after which the currency collapses.

That point is what is generally considered stage 3 of a ponzi scheme, after diminishing returns, where outflows exceed inflows. With regards to debt-based money printing (non-reserve/basel3 [based in objective value]), that transforms when GDP < debt growth.

The limit is silently enforced by legitimate market participant producers who exit the market once profit can no longer be made (as the stable store of value is debased and as a monetary property is lost). Since most companies use financial engineering, the time when this is noticed will be long after the critical period since that type of engineering decouples decision-making from short term constraints.

This can lead to catastrophic failure, as the dynamics cascade in similar ways to an avalanche, or a dam break where the trigger is not noticed, and the consequences of mass and motion following a conservation of energy cannot be stopped.

While we are talking about the dynamics of human action, which are not nearly as well defined as physics, the dynamics are no less powerful.