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John Laurits Under Fully-Automated Communism, Your Wage Is $90 Per Hour (Says Math)

Summary:
There is no problem with scarcity — there is a problem with humanity’s social organization and with its institutions. There is no failure in our production of economic values — even now they are being produced to abundance (maybe even over-abundance). The math above shows that, if it could be allowed, this country can afford to pay a wage just shy of 0 to every human being who is willing to work. It is only the obscenely wealthy whom we stretch and strain to afford… Economic rent.John LauritsUnder Fully-Automated Communism, Your Wage Is Per Hour (Says Math)

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There is no problem with scarcity — there is a problem with humanity’s social organization and with its institutions. There is no failure in our production of economic values — even now they are being produced to abundance (maybe even over-abundance). The math above shows that, if it could be allowed, this country can afford to pay a wage just shy of $100 to every human being who is willing to work.
It is only the obscenely wealthy whom we stretch and strain to afford…
Economic rent.

John Laurits
Under Fully-Automated Communism, Your Wage Is $90 Per Hour (Says Math)

Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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