The technological race among industry giants and the wave of layoffs they have announced has revived the debate about the advisability of taxing automation
If AI replaces workers then capitalism is no longer possible. What’s the next step here?
When Capitalism replaced Feudalism, the elites of the Feudal society became the elites of the Capitalistic Society. When mechanization replaced workers, we saw some horrific conditions where the elites made loads of money while workers did work that was long and backbreaking while living in poverty.
So what I would imagine is a load of people working long hours for doing the few things AI and Automation can’t do for a pittance while a small group of tech oligarchs make loads of money.
If AI replaces workers then capitalism is no longer possible. What’s the next step here?
When Capitalism replaced Feudalism, the elites of the Feudal society became the elites of the Capitalistic Society. When mechanization replaced workers, we saw some horrific conditions where the elites made loads of money while workers did work that was long and backbreaking while living in poverty.
So what I would imagine is a load of people working long hours for doing the few things AI and Automation can’t do for a pittance while a small group of tech oligarchs make loads of money.
Seems like we’d need to cull a percentage of the masses to make this work “economically”.
oh don’t worry, “The Invisible hand of the Free Market” will do that for us,