The Soapbox

BonsackHoo

Joined: 11/17/2011 Posts: 3039
Likes: 5546


Is this just a laugh at liberals post? What is your solution to automation?


Do you think automation is going to lead to massive job losses?

Unless you are a techno-optimist, the future looks increasingly jobless. Imagine a world where the labor participation rate is 40% rather than 60% not because people are lazy, but because machines can do a lot of jobs people used to do but cheaper.

That is millions of people with no income through no fault of their own. With no income, how do they pay for their housing, for consumption, for food? What drives the whole demand side of the supply/demand curve with a lot fewer jobs? What provides people with a sense of self-worth and value without a job? What do we do with them?

Here are the solutions that I am tracking right now:
(1) UBI--you will say this is free stuff.
(2) Guaranteed job (multiple Democrats proposal).
(3) Live off of capital income---not an option for the vast majority of the population.
(4) Do nothing and have people compete with the machines for lower cost cost--- this is a race to the bottom where people are going to be making less money than they do now if they have jobs at all. Do we just let people starve if they can't find work?

So I really want to know your solution to the upcoming automation. I think work is important (isn't that a conservative value...workfare not welfare?). And I know that this will have a cost...but it will probably be less than the tax cuts that a lot of you just supported.

(In response to this post by PalmyraHoo)

Posted: 04/24/2018 at 5:36PM



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