"pump in free money into the economy and price of everything will rise relatively"
This makes no sense. Runaway inflation is always a worry in any economy, but "free money" does not cause inflation. The government distributes plenty of "free money" as it is right now, and we're not seeing runaway inflation.
Those who support basic income argue that implementing the policy would more likely lead to the so-called "virtuous cycle" where, because people have money to spend, the economy improves etc. and because you're cutting out the current safety net and bureaucracy that surrounds it, you can afford to give people an income that will provide for their basic survival needs.
This makes no sense. Runaway inflation is always a worry in any economy, but "free money" does not cause inflation. The government distributes plenty of "free money" as it is right now, and we're not seeing runaway inflation.
Those who support basic income argue that implementing the policy would more likely lead to the so-called "virtuous cycle" where, because people have money to spend, the economy improves etc. and because you're cutting out the current safety net and bureaucracy that surrounds it, you can afford to give people an income that will provide for their basic survival needs.