IssueRaiser

"What I don't understand is where robots will get their jobs if nobody can afford the stuff that they make." Exactly.

"What I don't understand is where robots will get their jobs if nobody can afford the stuff that they make." Exactly. In the US, there's plenty of capital, vast productive capacity, and a shortage of demand. The CEO of WalMart says that their customer base is spent out. One of Wal-Mart's metrics is same-store sales over the course of a month. By the end of the month, sales are down and are mostly basic necessities. That's what it looks like in mass-market retail. There's a stable state where most of the population has a low income, can't buy much, and is barely participating in the economy. This is the normal condition in the parts of the world that have huge urban slums surrounding a rich city core. The US may be headed there. The "micro-houses" of today are the favelas of tomorrow. More productivity only makes it worse. That's what's so frustrating.

Posted by Animats on Jul 5, 2015, 2:38 AM

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reliability (EdTech)

"What I don't understand is where robots will get their jobs if nobody can afford the stuff that they make." Exactly.

AnimatsJul 5, 2015, 2:38 AM

"What I don't understand is where robots will get their jobs if nobody can afford the stuff that they make." Exactly. In the US, there's plenty of capital, vast productive capacity, and a shortage of demand. The CEO of WalMart says that their customer base is spent out. One of Wal-Mart's metrics is same-store sales over the course of a month. By the end of the month, sales are down and are mostly basic necessities. That's what it looks like in mass-market retail. There's a stable state where most of the population has a low income, can't buy much, and is barely participating in the economy. This is the normal condition in the parts of the world that have huge urban slums surrounding a rich city core. The US may be headed there. The "micro-houses" of today are the favelas of tomorrow. More productivity only makes it worse. That's what's so frustrating.

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