by Paul Craig Roberts says how the corporations drool over all the profits they will make from automation, but when there are no employees there will be no no wages so who will be able to buy anything?Think about it, say you own a small company and you completely automate it looking forward to the huge profits to be made as you don't have to pay any workers, and then ask yourself, who would worry about the long term future? Not many. Just hope for the best, I guess?At this point capitalism doesn't work anymore, but what answers do the libertarians, or the pro market conservatives, or the capitalists, have? Yep, just leave it to the market. So, when we all die off the market will correct itself and we all go back to the stone ages and start all over again. In contrast, Robotics, instead of
Topics:
Mike Norman considers the following as important:
This could be interesting, too:
Matias Vernengo writes Elon Musk (& Vivek Ramaswamy) on hardship, because he knows so much about it
Lars Pålsson Syll writes Klas Eklunds ‘Vår ekonomi’ — lärobok med stora brister
New Economics Foundation writes We need more than a tax on the super rich to deliver climate and economic justice
Robert Vienneau writes Profits Not Explained By Merit, Increased Risk, Increased Ability To Compete, Etc.
Think about it, say you own a small company and you completely automate it looking forward to the huge profits to be made as you don't have to pay any workers, and then ask yourself, who would worry about the long term future? Not many. Just hope for the best, I guess?
At this point capitalism doesn't work anymore, but what answers do the libertarians, or the pro market conservatives, or the capitalists, have? Yep, just leave it to the market. So, when we all die off the market will correct itself and we all go back to the stone ages and start all over again.