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#2 is probably the absolute worst possible thing to be done, and perhaps the most likely thing to be done. Abolishing minimum wage won't cause the costs of thi
by s73v3r 11y ago
#2 is probably the absolute worst possible thing to be done, and perhaps the most likely thing to be done.
Abolishing minimum wage won't cause the costs of things to come down, but it will create even more people who are given no choice but to have a job that doesn't pay them enough to live, or starve.
"Imagine if we just created 600M jobs automating all the things so that those jobs would never (or nearly never) need to be done again? The future generations would need Billions of jobs! But no one would be worse off for it."
Except for the people who aren't able to buy food or put a roof over their heads because they don't have a job.
"By automating and reducing the work that human kind has to do, we're enabling better lives all involved, including the displaced workers."
You're gonna have to explain what's better about being evicted from your apartment because you can't pay rent.
- maerF0x0 11y agoYou're missing the point that if automation does all the work there is no competitive reason not to lower the price down to near 0 (or the cost of capital, which at current interest rates is VERY low). If I can get land, put robots on it and churn out apples, all entirely without my labor, and I can borrow the money for near free, at what price could I sell said apples for?