>The good news is that, eventually, automation will reduce living costs. I’m not sure even this is true because of the degree of hyper-financialization and ren

>The good news is that, eventually, automation will reduce living costs. I’m not sure even this is true because of the degree of hyper-financialization and rent-seeking in areas like housing and healthcare. For example, with housing, even assuming we clear the zoning barrier, you still run into the problem of housing being an investment vehicle for global Capital. They’ll let it sit vacant or be consolidated into rental conglomerates in exchange for a relatively secure asset with marginal returns. It’s possible that systems in Europe with a greater degree of decommodification will benefit from automation (e.g. easier to build public housing and easier to administer socialized medicine), but this seems unlikely to hold true in the American context, barring some massive political change.