[AOsborn]

> But what I have started to appreciate is that increasing automation is by default a transfer of wealth from labor to capital owners.

I think this is correct. However, one aspect not yet covered in the media as much is that if wealth is concentrated and dispossessed from labour classes, there will be a corresponding decline or collapse in many areas of the economy.

If an entire generation of labour workers are tipped out of employment, who will purchase FMCG? Sure, the market for premium/elite products could increase but I do not think this will compensate nearly enough for the lack of volume.

It is in the interest of capital owners to ensure that significant markets remain so that industries that rely on economy of scale can continue to operate. Basic income doesn't help this situation.

[rgarrett88]

I don't think we'll have a lack of volume. Global incomes continue to rise and push demand higher. Often times developing economies' growth comes at the expense of developed but on the whole it's net positive.