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This all just beats around the bush. What's killing incomes for some and raising others is automation. One day soon, the only asset people are born with (minds
by DickingAround 11y ago
This all just beats around the bush. What's killing incomes for some and raising others is automation. One day soon, the only asset people are born with (minds and bodies) will be essentially zero value. Until now, everyone has at least that asset and now they won't.
That might imply we need guaranteed income. And maybe we do. But if that's coming from the government, remember who we're talking about; they lie to start wars, they're replete with corruption. If we ask the government to redistribute out wealthy, they'll redistribute it to their friends. The power to take everyone's money is too tempting for anyone to have.
- mc32 11y agoI think you're right. If not right now, some time in the future. I think at this time outsourcing and off-shoring are dampening wage growth --but in the future it will be automation which puts the kibosh on it. For sure higher minimum wages will accelerate the obsolescence of low-skill low productivity jobs. The one question about guaranteed income is who is qualified for it? Anyone and everyone? What do rich countries with high automation do about illegal immigrants, send them back? If minimum income is offered to everyone, why wouldn't everyone for whom the guarantee is above their own incomes want to come and undermine everyone else's income?