As usual, every dumbass on the thread misses the overall point. The point is ....how is civilization going to cope with machinery doing the labor that the overwhelming majority of humans used to do. How is that lower half of the bell curve expected to survive?
“How is that lower half of the bell curve expected to survive?”
Develop a skill set that cannot be duplicated by a robot.
However, there will be a tipping point where robots displace such a large amount of workers that there will no longer be enough consumers to float the economy and at that point there is not demand for robots.
“How is that lower half of the bell curve expected to survive?”
They can get robots.
Re: “The point is ....how is civilization going to cope with machinery doing the labor that the overwhelming majority of humans used to do. How is that lower half of the bell curve expected to survive?”
Two things will happen.
First, money that used to go to employees will flow directly to the owner or the corporation as profits.
Those profits will typically be taxed at much higher rates than the average tax rate paid by the former employees.
Thus, tax revenue paid to various governments will increase dramatically.
However, governments will need to subsidize many more citizens and residents, so the surplus will be short lived.
However, as robotic technology spreads across the world, the price of goods will begin to rapidly decline.
Thus, government subsidies in developed countries will enable most people to maintain a middle class standard of living - even if they have no work income at all.
I’d sure like to phone “someplace” and talk to a real live person.