Reply to post: Re: @I guess that's economists for you

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

Rich 11 Silver badge

Re: @I guess that's economists for you

The author is a philosophy major.

It shows:

3.Those of us who are laid off are not entitled to any of the gains that the new technology produces. The owner of the new technology alone is entitled to its proceeds, while all of our fellow citizens are now responsible to pay for our living (through taxes that fund basic income).

Which is why we have things like corporation tax, which effectively takes a slice off the profits of the owners of the means of production. Well, once the tax management specialists have all been put up against the wall and shot...

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