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The economy dosen't exist to provide jobs, it exists to fulfill consumers' needs. You need to remember that the idea of 40 hour-week middle class job fulfilling
by corimaith 2y ago
The economy dosen't exist to provide jobs, it exists to fulfill consumers' needs. You need to remember that the idea of 40 hour-week middle class job fulfilling one's livelihood was only ever an social abstraction that emerged in the last hundred years or so.
On the long run, increased efficiency in economies is what allows massive surplus vlaue to be created, making alot of luxuries once fit for kings now available for the masses. And so living standards improve and everyone benefits. If one is capable of automating an entire sector away, it also stands to reason that the massive surplus value created would make it trivial to restribute gains to those affected. And so forth for automation.
Maybe you think the corporations and rich will not do even that, that they would rather (somehow bypassing the government) keep all the profits, but profits are only realised so long as there are customers capable of affording such goods. And richer median customers produce much larger profits.
- Draiken 2y agoMaybe economies started out to fulfill customers needs, but now they exist to generate profits. It's a very different incentive.
- ImJamal 2y ago> You need to remember that the idea of 40 hour-week middle class job fulfilling one's livelihood was only ever an social abstraction that emerged in the last hundred years or so. The idea and implementation started in the 1500s. It wasn't wide spread (Spain and America and not for every industry). Working in a mine was only 7 hours not 8. It was sometimes even applied to the Native Americans. https://en.m.wikipedia.org/wiki/Eight-hour_day https://en.m.wikipedia.org/wiki/Eight-hour_day