UBI will decrease wages.

I see lots of talk amongst the left about a UBI, and it really shows how few people have actually read Marxian economics - Value, Price, and Profit, Capital, etc.First off, UBI can never be enough to live on. Given the existing welfare systems in most Western countries, UBI would be way too expensive tax wise and would likely lead to the dismantling of traditional welfare. Any UBI would still require the same amount of people to work. But now a large portion of the wages the employers used to pay in full are now being subsidized by the whole society - even the working class. Since wages are largely set by the cost to maintain a worker at a given skillset(Marx's concept of labor power), the amount of money the employers will have to pay in wages will go down in proportion to the UBI.If you have read Marxian economics, here's some further reading and content about this argument:https://paulcockshott.wordpress.com/2017/01/25/what-is-wrong-with-the-idea-of-basic-income/https://www.youtube.com/watch?v=QGBQwZsp3T0 via /r/communism https://ift.tt/3fgSAUT