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There isn't a shortage of goods, yet.
The danger is that everyone will decide to sack work off because the govt. will bank roll them and then you will get a shortage of goods and associated financial agony.
Howard-
The danger is that everyone will decide to sack work off
My effective wage compared to Hypothetical Furloughed Me is barely over £2/hr. Would I rather have a few hundred quid or 40 hours of free time a week? Tough choice
In other words I agree, people are going to sack off work
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Didn't Finland experiment with universal income and find this to not be the case?
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But UBI is the antidote to that because anything you earn on top of UBI you get to keep (subject to taxation at least). So @frankenbike won't be better off by £2/hr if he goes back to work, if they kept the 80% salary cover as UBI, he'd be better off by 80% (slightly less in effect if it some of that income were in a higher tax bracket)
frankenbike
NotThamesWater
ffm
Though if this is replicated in every country all around the world will this not nullify its effect?