Re:How Amazon Triggered a Robot Arms Race
by ethbro on Thursday June 30, 2016 @08:52AM
(#12008137)
The "eye of the observer" in aggregate is what forms the invisible hand in a free market.
But jobs existing are a consequence of two things: (1) demand & (2) ability to price work output above a minimum.
UBI answers a world where there aren't enough of (2) to satisfy labor supply (whether through automation or increases in efficiency). Because bar repealing minimum wage statutes we're going to reach a point where for {minimum wage salary} there only exist X potential jobs (additional jobs not economically-feasibly offering a sufficient income), and labor pool > X.
But jobs existing are a consequence of two things: (1) demand & (2) ability to price work output above a minimum.
UBI answers a world where there aren't enough of (2) to satisfy labor supply (whether through automation or increases in efficiency). Because bar repealing minimum wage statutes we're going to reach a point where for {minimum wage salary} there only exist X potential jobs (additional jobs not economically-feasibly offering a sufficient income), and labor pool > X.