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I have wondered at what point will job cuts start affecting the overall supply demand equation as more and more people get out of work and will have less spendi
by imagiko 8y ago
I have wondered at what point will job cuts start affecting the overall supply demand equation as more and more people get out of work and will have less spending capacity. Who will buy more 'stuff' and how? We don't know at what rate the jobs will be replaced, if at all. What will be the equilibrium point then?
- GoToRO 8y agoIf everything will be automated then "time with a human" will be really expensive. Why work 8h/day when you can buy everything with very little money (automation)? You will work 1h/day and ask a full salary for it. The only problem are changes that come too fast and people have no time to adapt. Exactly what startups try to do, to disrupt stuff.