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After a time of being unemployed, people will simply drop out of the work-force, which is exactly what happened during the last recession.
If, as you all claim, technology will take-over, the process will be slow and methodical, not sudden and drastic, so you can all stop with the fear-mongering.
The number of two-wage earner households will decline from 60+% back to 13.5% where it was in the early 1950s, and your Labor Force Participation Rate will be the same as the early 1950s.
People will slowly adjust and learn to do less with less. You'll see more communal living arrangements and other effects.
All of you operate on the false assumption that you are entitled to a 1st World Standard of Living. You're not, and the sooner you realize that, the better off you'll be.
Hey Mark, with all your billions of dollars, why not start your theory in your neighborhood. Walk around your neighborhood with your check book, ring every door bell and write a check for $35,000 to anyone opening their door.
Location: Live:Downtown Phoenix, AZ/Work:Greater Los Angeles, CA
27,606 posts, read 14,610,214 times
Reputation: 9169
Quote:
Originally Posted by Mircea
You'll never have a 25% Unemployment Rate.
After a time of being unemployed, people will simply drop out of the work-force, which is exactly what happened during the last recession.
If, as you all claim, technology will take-over, the process will be slow and methodical, not sudden and drastic, so you can all stop with the fear-mongering.
The number of two-wage earner households will decline from 60+% back to 13.5% where it was in the early 1950s, and your Labor Force Participation Rate will be the same as the early 1950s.
People will slowly adjust and learn to do less with less. You'll see more communal living arrangements and other effects.
All of you operate on the false assumption that you are entitled to a 1st World Standard of Living. You're not, and the sooner you realize that, the better off you'll be.
This is the makings of the French Revolution. The American people aren't going to let themselves fall into Rio, Sao Paolo or Belo Horizonte favela conditions while the rich not only get to keep their money, but get even richer. Can you say French Revolution 2.0: American Edition?
You have no idea. I work with people in this industry. Please don't try to educate me about technology you don't even know exists yet. The point is, what are they going to do with hundreds of millions of unemployable people? It's either basic income or starvation.
Hey Mark, with all your billions of dollars, why not start your theory in your neighborhood. Walk around your neighborhood with your check book, ring every door bell and write a check for $35,000 to anyone opening their door.
This is the makings of the French Revolution. The American people aren't going to let themselves fall into Rio, Sao Paolo or Belo Horizonte favela conditions while the rich not only get to keep their money, but get even richer. Can you say French Revolution 2.0: American Edition?
A vast majority of people will be fine if they get a check that covers their basic needs. Especially if you are talking about people now working at Walmart, Burger King or driving a cab. You are saying they will revolt to have to go to work instead of being paid to do nothing? I don't think so.
Im in the industry. 99% is unrealistic, its probably only about 75% or so. Theres some things that will resist it for a while. Judge for example, and police. (Although Dubai is planning on replacing 25% of its police force).
But its not ignorant fear mongering. It really is coming. And its showing up a lot faster then you would think. The expert systems really are the forerunner of this sort of thing.
The problem is that there will always be new disciplines and needs. With every adaption, a new concept opens up, which allows new possibilities for such. It is limited thinking that constantly fear mongers the end of the world, this is no different.
Location: Live:Downtown Phoenix, AZ/Work:Greater Los Angeles, CA
27,606 posts, read 14,610,214 times
Reputation: 9169
Quote:
Originally Posted by jackwinkelman
A vast majority of people will be fine if they get a check that covers their basic needs. Especially if you are talking about people now working at Walmart, Burger King or driving a cab. You are saying they will revolt to have to go to work instead of being paid to do nothing? I don't think so.
No I was responding to Mircea, who was saying that the standard of living was going to fall for everyone (except the rich). People won't just sit back and take that
The problem is that there will always be new disciplines and needs. With every adaption, a new concept opens up, which allows new possibilities for such. It is limited thinking that constantly fear mongers the end of the world, this is no different.
150 years ago half of the American workforce was farmers.
50 years ago ~30% of the American workforce supported manufacturing.
People will find something else to do on the whole. Older individuals who find years of developed skills obsoleted overnight are in for a world of pain. This won't be the first generation some people catch the short end of that stick and it won't be the last, but we're not going to run out of stuff to do.
Invisible Pink Unicorns and the Guaranteed Basic Income
Gather ‘round children, and I’ll tell you a tale about a beautiful invisible pink unicorn that will give everyone more than enough money so they never, ever need money again.
With a swish of its beautiful tail, all the people found themselves with a bank balance of 22 billion billion quatloos (a substantial sum!). Everyone was equally wealthy. No one needed money. And no one had to sell their labor nor the property to get more money since they didn’t need any.
Some people raised crops, and ate them. Some people herded animals, and ate them. But no one gave a hoot about selling anything. No one needed money. And thus nothing was available for sale. Why even the starving children were fabulously wealthy.
And, that, children, is how money madness works in a sophisticated society. These madmen believe in money (an abstraction) more than the reality of goods and services. (As the proverbial Indian said, “White man go crazy over yellow metal.”)
No one questions who creates money, how they got that power, why we need it, nor challenges the loan of that scarce money, at interest. Of course, everyone knows that the invisible pink unicorn can create all the money in the universe, so let’s not worry too much.
Sadly, prosperity is not based on money. A rich man trapped on a deserted island can’t buy anything let alone his rescue (Gilligan’s Island Scenario). Money is useless, worthless, and meaningless unless there is something in the marketplace, and sellers willing to trade for the money token.
In reality, prosperity is based on prodigious production, equitable trade, and enjoyment of surplus usable goods and services. Doing more with less so more can enjoy is superior to doing less with more so few can enjoy. Money has nothing to do with it. If everything was traded by barter, you couldn’t even account for it!
Instead of a guaranteed basic income, consider what would guarantee prodigious production of usable goods and services?
Isn’t there unmet need?
Aren’t there unemployed and underemployed laborers?
Aren’t there unused resources and raw materials?
Aren’t there unused manufacturing facilities?
Aren’t there closed retail and distribution facilities?
Ask each: What is stopping you?
“Don’t have extra money!”
Based on inflation, there’s supposed to be “too much money chasing too few goods.” Who has all that money and is bidding up the price for milk and cookies?
Bill Gates?
The “evil” Rich?
Nope. They’re not bidding up the price.
Who is debauching the money supply and its buying power?
● There was approximately $1.5 trillion in circulation as of February 22, 2017, of which $1.47 trillion was in Federal Reserve notes.
U.S. Population (2017) : 326,474,013
>>> $4,502.65 per capita <<<
Gee, that looks like a money drought to me.
Let’s whip that invisible pink unicorn into action.
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