Algorithm, Capitalism, Economy, Education, Man/Machine, Robots, Society

Automation and the end of Capitalism

“If the owners and operators of the machines kept for themselves all the proceeds from robot production, the state could not for long provide enough income to the rest to enable them to buy the goods and services produced by the elite….but if most of the elite’s money were taken from them by the state to provide incomes for the leisure class so that they could buy goods and services, why would the elite bother to produce anything? It seems to me that fully automated production and a world in which few people work for a living is not in the interests of capitalism or of capitalists. Maybe capitalists DO need a large labour force. Their survival depends on it. “

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