As technology becomes more advance, less and less people are needed.
Automation and A.I. will decimate the middle class and create a large welfare class.
CEO of Sun Microsystems
THE FUTURE IS BRIGHT
Nope. Not less people but less work is needed. People will acquire their major wealth sooner.
The welfare class is still a creation of the State, which focuses wealth into fewer hands.
A robot will sweep the streets with 1/3 the effort. But everyday people can also own that robot, not just rich oligarchs who get their monopoly from the State. But your robot will allow you to retire in half the time.
CEOs are know nothings. The little people just get intimidated. I laugh at their science prognostications. CEOs are so incredibly stupid. They just have valuable ties to the State.
How?
Give me specific examples.
Let’s go to your example.
People sweeping the streets today still work for a company.
So companies in the future will replace people with robots, and the people sweeping the streets will be gone.
Thus, the same company will be doing the same job, but with robots. The only thing missing in the equation is people.
Oh you seem to think the companies all the former employees will all of sudden be able to afford street sweeping robots after they get fired and have no income?