Quote:
Originally Posted by madlex
What to do with the money saved by automation, that’s where the disconnect starts.
In a competitive environment, the savings are eventually passed to the consumer, with some profit retained briefly by the early innovators. It must be passed along, otherwise any firm which does not do this will get its market share taken away by the firms which do pass it along.
Quote:
Originally Posted by madlex
In our current hyper capitalism environment, businesses will fight hard to get to keep that money for their executives and shareholders.
Unfortunately, a large part of the method used to fight to get to keep that money is lobbying government to restrict competition, or make it difficult for new firms to compete. We need to stop accepting this as normal practice, and realize that it's an immoral system which benefits the few at the expense of everyone else.
Quote:
Originally Posted by madlex
In a social market economy, at least part of that money will get back to the former employees who are out of a job now.
In a social market economy, the innovations either won't happen at all, or won't happen as quickly, because the innovators won't be able to keep as much of the benefits for being first to market.
Quote:
Originally Posted by madlex
Only one of those systems will work long term without a serious level of oppression.
That's true. Only free market systems can exist without a violent state enforcement apparatus.