Reply to post: Re: A bit simplistic

So, was it really the Commies that caused the early 20th Century inequality collapse?

LucreLout

Re: A bit simplistic

@Crumble

The best I can come up with is, take all the money, give it to the people, they use it to buy the output of the machines. Then you have to take all the money off the owner of the machines and give it back to the people to keep the cycle going.

In that scenario, who generates the wealth to invest in the machines initially, and why would they do so? If there is no economic incentive to do anything then people will do nothing - pop into any Wetherspoons about now and watch the tax payer funded welfare system at work. My local one has a sign restricting those with children to two drinks maximum, which is a very sad state of affairs.

The transition from where we are to the "Star Trek" universe you mention, assuming it comes, will be more painful than any in human history. Until the robots and the AI are truly commoditised, someone will own their output, and that person will no longer seek to pay for your output. Worse still, they will no longer seek to pay for mine!

POST COMMENT House rules

Not a member of The Register? Create a new account here.

  • Enter your comment

  • Add an icon

Anonymous cowards cannot choose their icon