Ellis Winningham

Returning now to the UBI, we can understand with a little more thought about the concept, that it is not an automatic stabilizer. While it does increase aggregate demand, it is not a stabilizer, because it provides a guaranteed payment to everyone regardless of their income level. For a UBI to act as an automatic stabilizer, the amount provided would have to be progressive with the poorest receiving more than the richest. Because of the guarantee of equal payments regardless of the person’s income level and the inflationary potential of a standalone UBI, it is, in fact, the antithesis of an automatic stabilizer; it is an economic destabilizer. For these reasons and those mentioned in my article yesterday, I cannot support a standalone UBI as a solution for any economy. (source)