News for hackers. Stuff that matters.

A comment on Universal Basic Income and the New Corporatist Democrats. Parent comment

Re:Universal Basic Income and the New Corporatist Democrats by samlevine on Thursday August 11, 2016 @12:59PM (#12269867)
> Automation will not put everyone out of work and it will not spell the end of capitalism.

The problem isn't going to be putting everyone out of work, it's going to be putting a quarter of the country out of work or loosely attached to the labor market.

The social costs for this are going to be absolute huge. Our norms are not ready for that many people to not work, and you only need a handful of people with little to lose to have massive social disorder.

[ Parent | on HN ]
Re:Universal Basic Income and the New Corporatist Democrats by BigDaddyD on Thursday August 11, 2016 @01:24PM (#12270071)
Let me rephrase that...

Automation WILL put people out of work. Just looking at my agricultural example that is true. My point is that those people found other jobs in other industries which is why the unemployment rate isn't currently 52%. There is a reason why economists use the term "technological unemployment."

[ Parent | on HN ]