Basic Income is a type of guaranteed monthly income provided by tax payers to all citizens. It would be an alternative to the current welfare system.

What do you mean? If someone's labor is not worth the minimum wage they will just remain unemployed. That is not good for them or the economy.

That is not how an economy works. You actually need to produce things. Just increasing the money supply without increasing production will cause inflation as more money chases the same goods.

Because some people's labor is not worth the minimum wage. Let the businesses pay them what they are worth. A basic income can maintain a minimum standard of living without penalizing work. This way once you get the first job and increase your skills you can earn more. Cutting off the bottom rungs of the economic ladder isn't the answer.

We did. I have tuff stuff eraser pens. The kids still use the ones on pencils until they are gone.

I have 3 kids in school. In reality you only need a couple of pencils but LOTS of erasers. We have about 200 pencils with the erasers missing.

You are only looking at who is hurt by deflation not the benefits. This is why Central Banking is so dangerous. It picks winners and losers for every action it takes.

Deflation hurts those:
in debt just like inflation hurts savers.
with houses but helps those looking to buy a house.

An economy needs savings to grow. Going into debt when there isn't actual savings (producing more than is consumed) cannot lead to sustainable growth but only malinvestment bubbles and crashes.

There is no such thing as a deflationary spiral. The economy always adjusts to whatever the money supply is. It just depends which industries were overvalued. Japan is suffering from stagflation where the Central Bank refuses to let deflation happen.

I agree that few economists think deflation is desirable which is why we are in such a mess right now.

Saving is required for sustainable growth.

Deflation is not bad in general. Just for those in debt. It's great for savers.

Inflation is an increase in money supply. In a free market money would be provided by the market. Precious metals, IOU's, American Express travelers cheques, bitcoins, etc. Human choices would determine what the supply of money would be. For instance if the price for precious metals rose in relation to other goods you would have price deflation. You could buy more goods with less gold. If it became profitable to mine for gold than people would do so which would increase the supply reducing the price and reducing inflation.

So there is no optimal value of inflation. Central banks inflate because it benefits them, the politicians, and those that get to spend the money first.

Economics is a science with predictive capabilities. The problem is knowing when this science leaves the world of economics and into the unpredictable world of human choice.

Economics similar to physics can tell you what will happen if some action is chosen.

If you let go of this bowling ball it will fall due to gravity. It doesn't say whether you will let go.

Similarly Economics will tell you that creating money out of nothing and giving it to people will cause distortions in the economy . What is can't tell you is if that money will be created, who it will be given to, and what they will spend it on.

It can tell you if you raise the minimum wage above the market clearing wage that marginal jobs will be lost. But it can't tell you what the market clearing wage is, if the minimum is above it, or which jobs will be lost.

Can you imagine driving where all of the streetlights are violently vibrating?

A part of a college education can be meeting and interacting with people of different cultures and backgrounds. If a private school wants to have this type of culture they should be free to create it by whatever means they determine is best for their school. You have no right to attend the school.

Now if this was a public school they might have an argument.

You don't own your employees and there is no such thing as poaching them. Offering a better deal is a perfectly legitimate business move.

That's why I use a French press and a straight razor. Both will still be working in 25 years.