Take this analogy. Some people have rare diseases. However, because the diseases are rare and not common, not enough resources go into finding cures for this disease. Should no one work on the cure for a rare disease because it will provide little value to the world, in comparison to a more common one?
I'm not saying this directly translates to UBI, but it is something to think about.
Heck, the way capitalism works, people wont invest in cures even for popular diseases killing tens of millions, if they can't make a nice buck from them (e.g. if the majority victims are poor Africans).
And by the same token, they will milk a cure that they've found as much as possible, even if that means that millions (who can't afford it at the price) will die or get bankrupt etc. (Of course if they could sell it a two different prices to different groups (price differentation) they wouldn't say no to poorer people's money, but they can't).
(And the massive profits from such drugs and of such companies overall, reveal that it's not just "recuperating" money spend on R&D).
> the way capitalism works, people wont invest in cures even for popular diseases killing tens of millions, if they can't make a nice buck
1) You're wrong. Bill Gates, etc, are counter-examples.
but,
2) The problem is the word "invest". You're saying in the same sentence that the investment is a loser. That you won't be able to eat if you take it. So change the word to donate, where it's clear the money is gone, and you'll see that people do indeed donate to things that don't help them. All the time.
3) It's not "how capitalism works", it's how any self-sustaining system of value allocation works.
How would they afford to stay open, to give the drug away, if it cost them more to develop and produce it than they made? Literally, how do they pay their suppliers and employees so they can eat and keep producing the drug, if they don't make as much or more than they expend?
The short-term example of this is the guideline that you should put your own oxygen mask on before helping others.
>1) You're wrong. Bill Gates, etc, are counter-examples.
Bill Gates is an example only of (a) the kindness of his heart, or (b) tax-incentives for philanthropy, depending on your level on cynicism.
Both tell us nothing about the system he operates in though (well, except the (b), which tells us something about the government and IRS).
Obviously anybody in any era and system could arbitrary out of kindess/a whim or for some hidden motive give money for a good cause. The question was whether the system encourages such a behaviour, not whether it can happen in some counter-examples.
>2) The problem is the word "invest". You're saying in the same sentence that the investment is a loser.
No, I'm saying that an investment shouldn't necessarily aim for the maximum profit, everything else be damned. I'm saying what enterprises only pay lip service to in their ads and brochures, their "social responsibility". I'm saying that if you can have a lesser profit (still profit mind you) but do far more good, you should do it instead of being a greedy bastard.
As for charity and donations, those existed both before and after capitalism. (In fact they predate capitalism by some millenia), so are no argument pro or against to our topic.
>3) It's not "how capitalism works", it's how any self-sustaining system of value allocation works.
There have been tons of "self-sustaining system of value allocation" (which pretty much means: any society) that didn't value profit first and foremost, or at least better juggled it with other concerns.
That doesn't mean that tons individuals or leaders in these didn't value profit first and foremost -- only that the societies at large had other moral/ethical/etc priorities and, err, values. In Ancient Athens for example, it was all about being a good citizen.
>How would they afford to stay open, to give the drug away, if it cost them more to develop and produce it than they made?
Nobody asked them to give it "away" or to have it cost them more to develop than they made.
That said, an organization can also operate at zero or marginal profit. Amazon did it for more than a decade, and not even for a good cause, just to gain market share.
No, that's the way humans work in a specific belief and motivational system.
Historically societies have had many incentives and motives for behaviour, advancement, job production, etc, outside of profit, that were as or more important to it. This includes religion, morals, ideals, customs, laws, etc.
Christians, for example, were for centuries not loaning with interest, not because they weren't humans, but because they valued a moral code more than profit.
As a fact, we do such stuff too, and have even put it in laws, e.g. against child labour, slavery etc. All those could bring huge profit too, but we value our morals (e.g. anti-slavery) more. People certainly didn't stop doing them because they weren't profitable.
> Christians, for example, were for centuries not loaning with interest, not because they weren't humans, but because they valued a moral code more than profit.
That confuses who's making the choices with who they're making them for.
There were always christians willing to lend for interest, what stopped them was the other xians who thought it was bad.
Also, look as islamic banking as a modern example. It charges almost exactly as much as a system with interest would but the payments are structured as fees, etc.
There's still usury, it's just in the form of ruinous collateral-backed fees, instead of compound interest. A late-payment fee, on the capital plus a previous late-payment fee, is economically identical.
> Should no one work on the cure for a rare disease because it will provide little value to the world, in comparison to a more common one?
Well obviously. We should invest in whatever saves the most expected quality adjusted life years per unit of resource spent. Investing in rare diseases is just silly and missing a huge opportunity cost. Usually.
I'm not saying this directly translates to UBI, but it is something to think about.