catastrophic job loss would destroy the ability of the non-landed, working public to paritcipate in and extract value from the global economy. The global economy itself would be fine.
Who would the producers of stuff be selling it to in that scenario?
BTW, I recently saw the suggestion that discussions of “the economy” can be clarified by replacing the phrase with “rich people’s yacht money”. There’s something in that. If 90% of the population are destitute, then 90% of the farms and factories have to shut down for lack of demand (i.e. not having the means to buy), which puts more out of work, until you get a world in which a handful of people control the robots that keep them in food and yachts and wait for the masses to die off.
I wonder if there are any key players who would welcome that scenario. Average utilitarianism FTW!
At least, supposing there are still any people controlling the robots by then.
Who would the producers of stuff be selling it to in that scenario?
BTW, I recently saw the suggestion that discussions of “the economy” can be clarified by replacing the phrase with “rich people’s yacht money”. There’s something in that. If 90% of the population are destitute, then 90% of the farms and factories have to shut down for lack of demand (i.e. not having the means to buy), which puts more out of work, until you get a world in which a handful of people control the robots that keep them in food and yachts and wait for the masses to die off.
I wonder if there are any key players who would welcome that scenario. Average utilitarianism FTW!
At least, supposing there are still any people controlling the robots by then.
That’s what would happen, and the fact that nobody wanted it to happen wouldn’t help. It’s a Tragedy of the Commons situation.