I think there are a lot of problems with the idea of basic income and I’m not a supporter of the idea. That said, what you just said seems to make perfect economic sense to me. If you give everyone money, the make companies compete to get it, you do end up being able to take advantage of the efficiencies of capitalism to feed and clothe the world.
For me the number one problem though is that people need to be useful, have purpose and feel connected to their community. Basic income and high unemployment is an economic system that screams, “you are a worthless mouth to feed!”
Somehow we need to do better.
