Reply to post: Re: Errrm

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

John Brown (no body) Silver badge

Re: Errrm

The author presumes that future economies must be Capitalist ones and then continues on that basis.

Society need not be so constrained.

Yes, that's more or less what I took from this story too. Capitalism as currently practised is broken and unsustainable. We seem to be heading back to the time of the robber barons trying to buy up sovereign governments. It'll take a strong leader to do to them what was done to Carnegie, Rothschild et al. Bank of America, Bank of China, Deutsche Bank have fingers in many pies but the ones we most see lobbying and influencing governments seem to be the tech titans of Apple, Google, MS, Amazon etc though Samsung seem relatively quiet on that front despite being the only tech titan in the top 10 most valuable companies list (5 are banks, 2 are big oil)

And as for the authors derision of "basic income", most of the civilised world pretty much has done that for many years, the USA (her apparent place of residence) being a notable exception. Dole, social security, whatever you want to call it, is not exactly a new experiment and gets tweaked and twisted on a regular basis in most of the countries which operate a form of unemployment benefits, sometimes to decent levels, sometimes to bare subsistence levels. The biggest problem with living on benefits for someone previously employed isn't the income and expenditure to survive, it's servicing the debts built up in the hope they'd always have a job (and the current pressures to cut budgets by governments)

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