Post
Topic
Board Economics
Re: Technological unemployment is (almost) here
by
xavi21
on 16/06/2015, 18:04:43 UTC
One major difference from the Industrial Revolution in England is that England had large (often captive) external markets.  Unless the Pleiadeans want to buy your structured finance products and get manicures, in a flat global world, that just isn't true any more.  Robots immigrate freely.

The major reason to keep the masses liquid is to uphold demand.  But consumption levels today already press resource limits: Supporting consumption requires increasing resource efficiency; without a huge efficiency boost, the masses will  be liquidated. Thus technological unemployment is strictly required in order to avoid mass poverty.  How liquidity will flow to the unemployed remains to be seen.  Classic patterns are less and less applicable as services are saturated and automated.