Nearly all the respondents saw a future where there are so few jobs, competing enterprises and viable capitalist markets, consumerism dwindles as no one can buy anything. Productivity costs due to automation drop precipitously and, with automation destroying wage-earning opportunities, capitalism collapses into some future systemic state.
Robotification is not the panic-inducing fear it might seem according to the number one private think tank.
Let’s skip basic income. Whether it comes sooner or later, there will be an automated economy in which smart machines are doing so many jobs that people are left with far more leisure time and governments are left with far less tax revenue. Whether this is a problem for humanity or not depends on how bold we are today. Basic … Continue reading Why I welcome the automated economy