I said something similar to tw88, but in a bit more detail on the capitalism discussion thread:
How freedom from the Need to work will make everything work way better, including Capitalism:
If we ever managed a really good social safety net system where basically no one has to ever worry about being unemployed, it would do incredible things for the nation that manages it!
If people can just walk away from their jobs if they want, then the Govt can just scrap most of its involvement, as market forces will ensure only decent employers get employees. 90% of the red tape companies deal with could be scrapped. (consumer protection stuff like no asbestos in teddy bears would probably still be needed)
Anyone with a good idea can start a company, and if they fail, its no problem, they can start another one. Also people can afford to work for free in a start up for a couple of years, in the hope of a big payoff when it gets invested in, or starts making money. So starting costs could be really low, allowing huge numbers of new entrants to markets every year, and only the best would survive making your nation way more competitive than any of your rivals.
Nothing would be too big to fail, because no one is ever going to be in real trouble so you can stand back and let efficiency rule.
But there is a legitimate concern around costs, which means either:
1.) You wait to introduce it only when the alternative is economic collapse (for example, when automation has massively shrunk the job market).
2.) Or you set aside an area of a country, and run an experiment, funded by the whole nation initially, and once it is up and running you need to prove that the high tax+UBI (or other safety net system) format allows a sustainable economy that is better than the current system
For a UBI economy to work better than the current one:
+Freedom from negative consequences to entrepreneurship and risk
+Reduced cost of wages (from people having a fixed income in addition to their salaries)
+Improved efficiency from much more streamlined employment regulations
-Reduced rewards for successful individuals due to higher taxes
-Reduced money re-investment in businesses due to higher taxes
-Labour shortages from people who could work productively refusing to do so out of laziness
I think this would be the case, Enough other people disagree that I think we will only find out if it works when scenario 1 takes place.