Its called “automation”.
Freeing up people doesn’t put them out of work, if its a free economy. More people thinking up more ideas means a more vibrant economy. The key elements are freedom and entrepreneurs.
Why shouldnt we take the word of a Greek communist bureaucratic slug when he tells us why capitalism must fail?
Varofakis seems to contradict himself in the second paragraph. Will the result be more or less jobs available?
I’m seeing lots of job loses in the retail sector.
Not seeing much to replace these jobs just yet. Not at the same standard of living.
I’m glad I only have about 25 years left to worry about such things.
Imagine 4 day work weeks
Being able to do things every single weekend to relax, start a new business, build additions on your house, etc etc etc
Robotics will provide many jobs building robots, and make manufacturing and farming so cheap you can live like a king on minimum wage.
Fears of massive job loss have been heralded since the start of the Industrial Revolution.
Instead, we have far more leisure and incredibly cheap access to basic & luxury goods. 40 hour work weeks are the norm, in remarkably clean & safe environments. Our poor are _fat_. Vast homes filled with any manner of goods are the norm.
Replace most current jobs with robots? new jobs will open, new opportunities arise, new goods & services become the norm, and the cost of living will plummet.
Robots replace labor with capital. You buy a robot with capital investment instead of paying an employee.
This is the same essential tradeoff that powered the industrial revolution. It will just extend further into many more types of tasks.
The industrial revolution raised the human standard of living dramatically across the board. People will have more, better, faster and cheaper.