This is a potential dream come true for liberals. They will be writing laws that require employers to contribute a "substitute wage" for every robotic task performed in their businesses. That substitute wage will go into a pool separate from social security and be used to subsidize and support people who have no avenues of employment. These people, in return will be regressed to being supported to the tune of about $8 an hour - right where they are now, except they won't have to work.
The result will be a similar battle to what we see no except that instead of demanding a higher wage for working, they will demand higher support. The dems will gain greater control over a bigger class of perpetually poor people.
(I'm not an economist, but I play one on the interweb)
That is indeed the likely scenario. However, I’m curious what your alternative is for a future where there is zero economic demand for the contributions most people are capable of making to the economy.
This is likely to be a society where enormous amounts of “stuff” is produced with very little human input.
Do those few people who are still productive obtain automatic title to everything that is produced?
Is there any way to prevent this without shutting down innovation, which would of course require a totalitarian system?
I’m a huge fan of the free market, which has had a darn good run of several centuries. But it’s perhaps best known for its ability at “creative destruction.”
I’m beginning to suspect that its last act of creative destruction will be self-destruction.