Russians Marvel At American Bolsheviks And Give Fair Warning To The Consequences

[Pio1980]

"Makers and takers", Ayn Rand bullshit.

[donquixote99]

Universal Basic Income (UBI) will be necessary to sustain demand. How are permanently unemployed people supposed to consume? Who will buy what the robots make? There must be sales for the capitalists to reap profits.

[Dondilion]

Often in these social unraveling logic is missing and there is a reach for "let them eat cake".

[donquixote99]

The employed workforce is yet another commons the capitalists are destroying. There is a gotcha in thinking 'I can fire most of my workers, and everyone else's workers will sustain my market.'

[Dondilion]

Another insight: What did they do with the massive tax giveaways?

[bobabode]

Originally Posted by Dondilion

Another insight: What did they do with the massive tax giveaways?

They had massive stock 'buy backs' and paid yuge dividends/bonuses.

[Waggs098]

Originally Posted by donquixote99

The employed workforce is yet another commons the capitalists are destroying. There is a gotcha in thinking 'I can fire most of my workers, and everyone else's workers will sustain my market.'

So what your saying is, a company owner fires all workers and puts robots in their place. While he is not employing people who could then by things he is relying on other employers to have employees who can afford his products, until the next employer goes to all robots.

[nailer]

Thing is, I don't think any companies are thinking "I can fire most of my workers, and everyone else's workers will sustain my market."

[donquixote99]

Originally Posted by Waggs098

So what your saying is, a company owner fires all workers and puts robots in their place. While he is not employing people who could then by things he is relying on other employers to have employees who can afford his products, until the next employer goes to all robots.

That's the idea, yes. The point is, it's in every employer's interest to reduce his labor cost as much as he can, and that interest is persistent in all economic conditions. But if they all do it enough, they wreck the economy. No one employer is responsible for the aggregate effect, or intends it. But it's an emergent result from the system.

[Waggs098]

Originally Posted by donquixote99

That's the idea, yes. The point is, it's in every employer's interest to reduce his labor cost as much as he can, and that interest is persistent in all economic conditions. But if they all do it enough, they wreck the economy. No one employer is responsible for the aggregate effect, or intends it. But it's an emergent result from the system.

Or an emergent from technology.