Post
Topic
Board Economics
Re: Technological unemployment is (almost) here
by
Rassah
on 26/12/2013, 02:54:05 UTC
Reduce production to the number of "bourgeoisie and tech elite" and increase prices to compensate, and you'll still make a profit.
Most hi-tech products have huge R&D and initial costs (e.g. lithographic masks for CPUs), so only mass markets allow to set prices on the acceptable level. If we will reduce the production, bourgeoisie and tech elite will be new poor after buying these products! Grin

They're elite. They can afford it. They'll be the only ones who can. As wealthy early adopters, they're the ones who pay thousands for new large screen TVs and expensive gadgets already, remember?