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Automation lowers costs, which increases consumption. We essentially trade time for dollars, and then dollars for goods that themselves took time to produce. Wh
by bushbaba 1y ago
Automation lowers costs, which increases consumption. We essentially trade time for dollars, and then dollars for goods that themselves took time to produce. While the exchange rate of time-for-time stays constant, automation means we now get more goods for the same amount of time worked. So it’s not nearly as bleak as you make it out to be.
- sitzkrieg 1y agobut if my income is $0/yr, how am i suppose to subscribe to platforms and internet and consume ads
- raincom 1y agoThe real problem lies elsewhere: yes, it is cheaper to buy goods made by automation. People need jobs to make a living--pay rent/mortgage, health insurance, etc. Automation is needed to make a living easy: cheaper housing, cheaper access to health, etc. And this is not possible for the foreseeable future.