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Elon Musk Debates Universal Income's Inflation Impact

Elon Musk suggested that universal government checks would not cause inflation, a claim disputed by economist Steve Hanke, who argues it's not guaranteed.

22 Apr, 10:51 — 22 Apr, 10:51
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Business InsiderMostly Factual126d ago

Elon Musk says government checks for all wouldn't spike inflation. Economist Steve Hanke says that's not guaranteed.

Elon Musk made the case for a "universal high income" that wouldn't cause inflation. Kevin Dietsch/Getty Images Elon Musk said government checks for all could address job losses from AI without causing inflation. The Tesla and SpaceX CEO said AI and robotics will supercharge production, driving down prices. Steve Hanke said Musk is right in theory, but there's been both inflation and deflation during past booms. Elon Musk recently said the "best way" to handle job losses from AI would be fo...

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Coverage Timeline

First report: Business Insider · 22 Apr, 10:51Full coverage: 2 · 5hWindow: 5h
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Business Insider22 Apr, 10:51First to report

Elon Musk says government checks for all wouldn't spike inflation. Economist Steve Hanke says that's not guaranteed.

5h later
Yahoo22 Apr, 16:09Latest update

Americans would get ‘universal high income’ via steady federal checks under Elon Musk’s new proposal. Will it happen?

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