Re:Albert Einstein: Why Socialism? (1949)
by johnohara on Friday March 11, 2011 @10:25PM
(#2315878)
Technological progress frequently results in more unemployment rather than in an easing of the burden of work for all. The profit motive, in conjunction with competition among capitalists, is responsible for an instability in the accumulation and utilization of capital which leads to increasingly severe depressions.
One of the promises of increased automation was supposed to be more leisure time for the individual. If Einstein is correct, and he may well be, then future economic restructurings may be far worse than than the one we are experiencing now.
One of the promises of increased automation was supposed to be more leisure time for the individual. If Einstein is correct, and he may well be, then future economic restructurings may be far worse than than the one we are experiencing now.