WSJ just made the perfect argument for a basic universal income.
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And workers won't get any benefits from productivity growth.
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If anything they'll be rewarded less, as more people become unemployed and competition for the remaining jobs increase
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God have mercy on us. Most people don't want this so why are you forcing this down our economy? Spare us the nonsense that robots will create jobs. We know better. Soon, there won't be enough jobs for the current population much less a quickly growing one. Humanity b4 profit.
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It just means we will not have to work so that we can peruse our actual desires
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And the government will pay for everything.
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No, automation will. Labor from humans will be an ancient ideal.
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How would the economy be structured in this society? If labor is replaced by automation, the majority of consumers will then become jobless, meaning they can no longer be consumers. Obviously a capitalist economy can’t survive without consumers.
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So if this society were to come into fruition as you say it will, then the way goods and services are distributed would need to be changed drastically.
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1.I did not say it would but that it could. Everyday I get tweets regarding AI & how it will make everything wonderful. People will be free to be more human & pursue other interests besides work. Using what for money when the AI/automation takes more jobs than it has.
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I disagree on your second point. How we distribute capital is key - the income produced by AI/Robots can be distributed among the population in a beneficial way if we make changes now.
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If robotics and automation continues, will robots start buying goods and services? Will they pay taxes? Will their employers pay taxes for them on their behalf? How do you call destruction of home markets by eliminating workers "good?"
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Industry is going to fire a lot of people? That would be my guess.
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The Era Of
#CuttingEdge Tech Is Here. Yesterday#Futurism Is Today#Functional Reality. It Could Be#DoubleEdge Sword ? We/The Civilization Must#Maximize The#Benefits Of,New Tech. It Should#Serve To Us/In Multiple Fields. In The Modern 21c./This Is Perfectly,Normal. -
You are out of your mind? Robots don't buy goods or pay taxes. Replacing workers with robots destroys the demand for goods and services that keep flesh and blood people employed.
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Doesn't matter if wages are still stagnating. People are more important than the value they produce for a company.
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Productivity has been up for years, it’s wages that have stagnated.
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Since it will be leveraging automation and robotics, thus cutting more jobs by the day, thus reducing income across the board, thus reducing discretionary income, WHO ARE THEY PRODUCING FOR?
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