3 ms·
I do like that they notice the fact that automation and plummeting wages do not automatically mean immiseration for the population. I've read so many uninformed
by Sol- 11mo ago
I do like that they notice the fact that automation and plummeting wages do not automatically mean immiseration for the population. I've read so many uninformed online discussions along the lines of "If no one has jobs anymore, who will buy their products" where people do not even briefly stop to think that automated jobs will most likely also depress prices of many goods and services.
I do not know whether the outcome will be good or not, but it's good to recognize that wealth can increase even in the face of widespread automation.