No but it does grow the economy. Things you buy with the borrowed money count towards the GDP.
If you have people buying and selling nothing that's going to be a small economy.
If you have the same people, with the same wealth, buying and selling stuff to each other, that grows the economy.
If you have the same people buying and selling stuff faster, they may still retain the same wealth but the economy will grow even further.
The size of the economy is about the number of transactions, and printing money or borrowing money can definitely grow the economy (IF that money gets used to accelerate economic transactions).
> If you have the same people buying and selling stuff faster, they may still retain the same wealth but the economy will grow even further.
At the expense of future growth. All of the money borrowed must eventually be paid back, which reduces growth by reducing that same money supply (increasing taxes to pay for it reduces the money supply similarly). It only makes sense to borrow when the future rate of return is greater than the interest rate of the debt, i.e. it'll take more than 8 years to see any return on investment from UBI.
If you have people buying and selling nothing that's going to be a small economy.
If you have the same people, with the same wealth, buying and selling stuff to each other, that grows the economy.
If you have the same people buying and selling stuff faster, they may still retain the same wealth but the economy will grow even further.
The size of the economy is about the number of transactions, and printing money or borrowing money can definitely grow the economy (IF that money gets used to accelerate economic transactions).