The experiences gained, though, will lead to the robots becoming cheaper and cheaper until the robots are on par with Western wages, and then hell will break loose.
Though the paper itself is very transparent in their methodology and extremely readable. Also, clothing is a commodity. In both cases they get their income as rent on their capital, not wages for their labor; at least not most of them. The median age of purchasers jumped up by more than a decade.
That remains to be seen. The only problem are changes that come too fast and people have no time to adapt. Do you honestly believe this isn't going to be a problem? >If you just discount the rest of the world then you're talking about < 4% of the population of the planet.
Maybe not next year or in 10 years, but it is on the horizon for quite alot of professions. One function of UBI has never been clear to me: if everyone has X, then no one does. They tried to sour the suppliers against us (and it worked in a few cases), but for the most part the supplier preferred us. All that said, it's too bad that warehouse work isn't going to be an option for many people. That’s what we saw after the dotcom crash. It is ridiculous that I cannot invest in the IPO of a company in my local neighborhood because, while I have enough money to satisfy the business, I don't have enough money to satisfy uncle sam's onerous requirements. I think it makes some sense to deliberately cultivate and preserve IRL communities and networks that aren't very tech-mediated.
I remember seeing that the only people needed is people to repair the machinery if it broke down and the whole manufacturing process being automated with self-driving carts moving around the materials.
You can't imagine having a family when working on Uniqlo. At $200,000 per year, the marginal tax rate is 39.4%. See the little numbers in square brackets, like ? Decathlon in Spain has a very similar system. With that said, what do you think happens when a second company in the same sector starts to realize the same cost savings, and realizes they can move more units by using the cost savings to lower prices and ultimately return even more to shareholders? I would be interested in the numbers, but based on my experience of homelessness in California, most homelessness is due to severe mental health issues, not poverty. Thing is, "currently the wealthy take 95+% of the wealth they create" is an accurate description of the dynamics in pretty much any industry, in pretty much no business has so extreme margins, probably not even if you're digging out gold and diamonds with slave labor.
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