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by norea-armozel 3606 days ago
Mostly because it's the gains from automation that goes to Wall Street and not Main Street. The idea that you or I could personally enjoy the benefits of automation beyond the trivial devices we buy (IoTs, Washers/Dryers, etc) frightens the capital owners because that means we too could be competition. We too could produce for our own needs and not their designs on our needs. Keeping us away from automation is as much important to the capital owners as them utilizing it to reduce labor inputs to grow their expected ROI. It's a strange situation I think Wall Street has found itself in. It needs automation but equally fears the outcome of it (where people just take automation away from them and care for themselves).