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
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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.