>>Technology and automation increase the total productivity in an economy, but only people who own these technologies benefit from the profits. That is not tru

>>Technology and automation increase the total productivity in an economy, but only people who own these technologies benefit from the profits. That is not true. It lowers consumer costs, reducing living expenses and making it easier for more people to come to own technology. Look at smart phone ownership rates since 2007. It went from 40 million people owning one to 2.5 billion owning one today. Thanks to the proliferation of automation, in the form of factories with mechanized manufacturing processes, smart phones are much more affordable today than in 2007. A smart phone is a computer with a camera and microphone that enables and automates many tasks, meaning the automation of smart phone manufacturing is increasing the automation technology that people own. >>However, in a capitalist economy, the biggest incentive for creating AI is to reduce labor costs - compare something like a warehouse worker, who must be paid every week, with a warehouse AI robot. Lower labor costs per unit of output means more people can afford services and products, including products that allow them to automate their own personal production.