Quote:
Originally Posted by CliffFletcher
Correct, as automation cuts deep swathes through labour needs, business will need to step up to the plate and contribute to basic income. At some point there won't be enough spending power to fuel our economy, and businesses themselves will need to essentially foster and grow consumers just to have people to sell to.
I don't know exactly how that will work. I suspect there will be something like vouchers or contracts, probably bundled, where a person may opt for $100/mo from Walmart, $150/mo from Amazon, etc. Big producers and retailers will rely on this mass-consumer voucher model, while local boutique shops and services will be patronized by people who have well-paying jobs.
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There are some estimates that show over the next 10-15 years up to 40% of the workforce are at a potentially high risk of automation. We are already at a point in time where self driving cars alone could bump the unemployment rate by 5-10% in a very short amount of time.
Probably time that Canada reconsider it's immigration policies too if labour isn't going to hold the value it previously did. I can't see a situation that is sustainable if we are bringing 250-300k per year into the country. There won't even be enough jobs to support those already here.
Governments needed to start looking at this problem yesterday. This is going to come quick and it is probably going to hurt.