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Basic income after automation? That’s not how capitalism works

Anonymous Coward
Anonymous Coward

Unfortunately that article is wrong.

1) Automation presents a far greater degree of ongoing risk to jobs than any previous industrial revolution. It CANNOT be assumed that new jobs will be created just because they were in the past.

2) The entire financial system WILL collapse at some point. Fiat money and a debt based money system cannot survive. The mountain of bank created debt is already fuelling casino capitalism to the extent its beginning to destroy the productive economy.

3) Inequality will become so great that the pitchforks will come out. War is the inevitable consequence if wealth isn't shared out. Would you rather a re-run of the 1930's again ?

4) If few people have jobs, who's going to buy the products ? Robots ?

I'd rather not end up living in a 'mad Max' type world with the elite vs. the rest armed by robots.

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