Quote:
Originally Posted by GGG
If automation reduces the need for humans in certain jobs it creates surplus.
This surplus could pay everyone who was automated (the cost of the automation absorbs some of the automated people with new jobs automating things) their same wage to do nothing if the cost of goods remained constant. Historically this surplus has been split between workers, profits, and lower prices rather than to the unemployed automated person.
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Would you mind elaborating on how in your view this surplus created from the job losses resulting from automation would be attributed to what were once profits and lower prices as opposed to the the labour cost savings being the sole contributing factor?