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by increment_i 3380 days ago
I've heard this argument and I think it's a fallacy. I think the point is that automation will indeed "break" the economy in a drastic fashion. Money and consumers is just an efficient abstraction - what's really happening is that two parties are exchanging value (i.e. trading). If the middle/consumer class bottoms out, and automation renders their labour valueless, the owners of the automated, robotic outfits simply need to trade within themselves to keep their endeavours worthwhile. Of course, I suppose I'm taking things to overly simple, probably dystopian logical extremes here.

Nevertheless, the guy in charge of the fully robotic organic farm only needs to trade with the guy with the fleet of robotic mechanics and both parties have realized a profit. There was no need for a bunch of consumers and their cash to make this transaction.