Re:Eric Schmidt: How We Outrace the Robots
by maxerickson on Thursday December 13, 2012 @07:01AM
(#4915381)
Most people that have lots and lots of capital have quite some luck to thank for it.
When automation starts destroying the value of that capital, I don't think it really makes sense to say that they are the ones paying for everything.
(To be clear, I do think that automation sufficient to build a factory factory leads to a situation where existing capital isn't worth very much. If anyone with a modest level of technical ability can bootstrap a manufacturing empire, people won't stand for a social arrangement that prioritizes the material wealth of the few.)
When automation starts destroying the value of that capital, I don't think it really makes sense to say that they are the ones paying for everything.
(To be clear, I do think that automation sufficient to build a factory factory leads to a situation where existing capital isn't worth very much. If anyone with a modest level of technical ability can bootstrap a manufacturing empire, people won't stand for a social arrangement that prioritizes the material wealth of the few.)