this post was submitted on 16 Jul 2024
174 points (97.8% liked)

World News

39041 readers
2644 users here now

A community for discussing events around the World

Rules:

Similarly, if you see posts along these lines, do not engage. Report them, block them, and live a happier life than they do. We see too many slapfights that boil down to "Mom! He's bugging me!" and "I'm not touching you!" Going forward, slapfights will result in removed comments and temp bans to cool off.

We ask that the users report any comment or post that violate the rules, to use critical thinking when reading, posting or commenting. Users that post off-topic spam, advocate violence, have multiple comments or posts removed, weaponize reports or violate the code of conduct will be banned.

All posts and comments will be reviewed on a case-by-case basis. This means that some content that violates the rules may be allowed, while other content that does not violate the rules may be removed. The moderators retain the right to remove any content and ban users.


Lemmy World Partners

News !news@lemmy.world

Politics !politics@lemmy.world

World Politics !globalpolitics@lemmy.world


Recommendations

For Firefox users, there is media bias / propaganda / fact check plugin.

https://addons.mozilla.org/en-US/firefox/addon/media-bias-fact-check/

founded 1 year ago
MODERATORS
 

Thailand’s prime minister said Monday that eligible businesses and individuals can register from August for digital cash handouts, a controversial program that will cost billions of dollars and is meant to boost the lagging economy.

The government announced in April the widely criticized ambitious plan, named the Digital Wallet, meant to give 10,000 baht (about $275) to 50 million citizens in digital money to spend at local businesses.

However, economists have criticized the program, calling it an ineffective way to contribute to sustainable economic growth compared to other measures.

Thailand has in recent years suffered from a sluggish economy that appears to have deteriorated with no clear sign of growth. This month, the World Bank’s Thailand Economic Monitor projected GDP growth of 2.4% for the year 2024.

you are viewing a single comment's thread
view the rest of the comments
[–] palmtrees2308@lemmy.one 15 points 4 months ago (3 children)

Why a single stimulus? why not a Universal Basic Income? Doesn't the world is in recession because of US covid stimulus?

[–] Evil_Shrubbery@lemm.ee 9 points 4 months ago

Step by step, capitalism too stronk.

But hopefully very soon.

[–] scarabic@lemmy.world 3 points 4 months ago (1 children)

My fear about UBI over the long term is that it will just get baked into prices and stop having a beneficial effect. Basically inflation. Inflation is what happens when money is devalued. And if everybody suddenly all have this magic same amount of money dropped out of the sky, who’s to say that anything fundamental in society will change? All the basic supplies and demands will still be there, so will there just be slightly different digits on all the price tags? What does that solve? Anyway, you shouldn’t expect a government to go STRAIGHT to UBI without some shorter term one-time stimulus experiments. So let’s hope it goes well and inspires more experimentation instead of saying hey stupid why didn’t you make it permanent? There are some obvious questions about how that would go.

[–] Viking_Hippie@lemmy.world 6 points 4 months ago (1 children)

My fear about UBI over the long term is that it will just get baked into prices

That's why UBI alone would ultimately not help much, but UBI and price controls would be EXTREMELY helpful, especially to those struggling the most.

money dropped out of the sky

This is basically what most money is already. Difference with UBI is that a certain amount is guaranteed to go to everyone to create a financial floor, rather than almost all of it going to the 10% that exploit the other 90%

who’s to say that anything fundamental in society will change?

With UBI and price controls combined? Unless the UBI amount is too small or the price controls are too lax, it literally can't NOT fundamentally change a society where the majority is struggling to get by.

All the basic supplies and demands will still be there

Except there's TONS of market forces beyond just the basics, including ones that artificially deflate income and inflate prices. UBI combined with price controls would undoubtedly change the entire landscape for the better for the struggling majority as well as those of the rich whose income is at all connected to open commerce rather than just the stock market casino.

Anyway, you shouldn’t expect a government to go STRAIGHT to UBI without some shorter term one-time stimulus experiments

Except for the fact that such incrementalism has been shown again and again to take one or two insufficient steps in the right direction before being rolled back by opposing forces.

When it comes to transformative change, half or quarter measures and onetime tests just don't work.

[–] scarabic@lemmy.world -2 points 4 months ago

And sweeping comprehensive permanent changes “work?” Do we have a single practical example of UBI + price controls?

[–] fine_sandy_bottom@discuss.tchncs.de 2 points 4 months ago (1 children)

Do you really think a south East Asian country is going to be the first in the world to roll out UBI?

[–] DragonTypeWyvern@midwest.social 8 points 4 months ago* (last edited 4 months ago)

Easily. They actually make things.

You just need to make it tax supported instead of a money printer.