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I think it is foolish that some people argue that it will be first world countries begging and fighting over immigrants from 3rd world countries to fuel industry growth as native populations decline in first world countries like Japan, Germany, and etc..
Once 90% of jobs are automated the unemployment will be so high that the work week will be reduced to 10-15 hours and the pay will increase substantially to make up for the lost hours. Of course, I am assuming the folks that own the automation technology are not greedy. Socialism is always needed in capitalist countries to avoid revolution.
Once 90% of jobs are automated the unemployment will be so high that the work week will be reduced to 10-15 hours and the pay will increase substantially to make up for the lost hours. Of course, I am assuming the folks that own the automation technology are not greedy. Socialism is always needed in capitalist countries to avoid revolution.
I imagine that new jobs can be created too, but it will require more education and initiative. We already are in a bit of a revolution. ~10% of babies born in this country are to illegal immigrants, it helps this change for socialism.
The machine that can flip burgers and make fries is coming soon.
Most jobs can be automated. If you think illegals were bad just wait.
For decades. Burger King has had fully automated flame broilers to give their burgers that char to make you think they barbeque them! I've always thought they were cooking their burgers with the Craftsman propane torches one uses for sweat fitting copper pipe. They toast the buns in a similar device so it would just need a machine to assemble the whopper cheese and salad components and squirt on some ketchup and mayo. All trivial process engineering.
So glad MCDonald's is finally going to see that meat and cheese are the toppings we most desire on our burgers, and if we want vegetables they're going to be non-traditional ones like mushrooms by golly!
Once 90% of jobs are automated the unemployment will be so high that the work week will be reduced to 10-15 hours and the pay will increase substantially to make up for the lost hours. Of course, I am assuming the folks that own the automation technology are not greedy. Socialism is always needed in capitalist countries to avoid revolution.
Money for labor is based on value in turn from market demand and labor supply.
Money for labor is based on value in turn from market demand and labor supply.
Yes, but excessive automation will cause a drastic reduction in employment. BTW, this is nothing new and has been going on for years. Remember elevator and telephone operators. If you call a large business you usually talk to a computer. But, this will get much worse and employment will be very hard to find.
Regardless of the above: If there is no employment then folks have no capital to buy goods. Yes, a machine is cheaper than an American worker or an illegal. But, if no one is working we have a serious problem.
Excessive automation could create a revolution unless the owners decide to pay much higher salaries for a few hours of work. Some countries could decide to pay the citizens a salary for no labor. If they follow strict demand and supply of labor they will encounter a revolution or a state where no one has income.
So it is likely a highly advanced civilization where everything is automated becomes a socialist system. Whether the poor are lazy or not is moot because the work is done by machines. And the machines will be maintained by machines.
Im in awe at how many folks bring up $15/hr. Folks, these machines were being worked on before the $15/hr discussion was even going on. And even if the minimum wage doesn't go up, it wont stop these machines.
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