Your remarks are spot on. They are why I’ve read up on some of these problems over the years, even though I’m not an economist.
Automation very well might mitigate and/or cause other issues. It is to be seen if a capitalistic system will succeed in being reasonable, especially some of the more virulently capitalistic ones like the US. People being more productive has avoided many problems in capitalism for a long time, AI is a new way for this to happen.
Universal income is an excellent idea. There have been some really convincing studies where it has been implemented on small scales (one town or village). So far it hasn’t gone much farther as there are strong contingents of people unreasonably against the idea.
Basing economy on growth is problematic. Growth being key to capitalism has been a criticism for awhile. It is reckless, doesn’t reflect actual reality of resource limits of growth, and sets up problems some countries are facing (declining birthrate, job displacement due to automation, etc).
Your remarks are spot on. They are why I’ve read up on some of these problems over the years, even though I’m not an economist.
Automation very well might mitigate and/or cause other issues. It is to be seen if a capitalistic system will succeed in being reasonable, especially some of the more virulently capitalistic ones like the US. People being more productive has avoided many problems in capitalism for a long time, AI is a new way for this to happen.
Universal income is an excellent idea. There have been some really convincing studies where it has been implemented on small scales (one town or village). So far it hasn’t gone much farther as there are strong contingents of people unreasonably against the idea.
Basing economy on growth is problematic. Growth being key to capitalism has been a criticism for awhile. It is reckless, doesn’t reflect actual reality of resource limits of growth, and sets up problems some countries are facing (declining birthrate, job displacement due to automation, etc).