Common sense tells me that if you were to give everybody $1000 per month that the market would adjust and the prices on everything would increase to account for all this money that businesses know you'll have. That, at the end of the day, nothing would really change. Am I wrong on this assumption?
Also, would it be good or bad for the economy if most idiots went nigger rich and spent their $1000 a month on luxury cars and junk food?
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Pretty much. You have X amount of goods.
Tax some people $2000 more.
Give everyone $1000
Same amount of goods, just distributed differently. But now, less incentive to work and make more goods, cuz free money
duh
>Am I wrong on this assumption?
Yes.
that's what happens when you increase the minimum wage you absolute brainlet
>Am I wrong on this assumption?
Nope, it's completely accurate. It's worth understanding some basic economics to be able to debunk this stuff. The first major thing to understand is that value and money aren't the same thing. That money is a proxy for value, and for money to remain useful to people the value must remain relatively constant. You don't want the wages your boss pays you to be worth 1/2 as much the next day, that would be very bad for you because when you come to trade that money for other things of value like say food or clothes you want the value to remain about the same.
The relationship beween value and money is a dynamic one, money changes value depending on the sum total value in any given system, and the total amount of currency that has to represent that value. You can sort of think about this as how many dollars exist and how many products and services exist, and you kinda divide the 2 and that is roughly what decides the value of any one dollar.
If you just give a bunch of money to people who dont represent much value, then money stops representing value properly and the relationship between money and value has to change, the system has to re-balance such that money closer reflects the value of these people, and it does this essentially through inflation, the purchasing power of the dollar drops, and not just of all the dollars you're earning but of all the savings you have held in dollars.
Poor people don't want more money, what's the point in getting more money if those dollars are worth less when you get them? What poor people need is more VALUE, they need skills and experience that make them more valuable in the work place so they're paid more but the dollars they're paid are worth something.
You don't even know what a PCO is.
>hurr durr I took econ 101 and think I understand market forces
BASED. Math niggers unite.
Just like raising the minimum wage. Prices go up and the jew handing out shekels raises his to compensate.