Hacker News new | ask | show | jobs
by NoGravitas 3061 days ago
Technically, no one will need jobs.

However, our society rations resources, including resources that are needed for living, and including resources that are not actually scarce, on the basis of money, which can be returned based on capital or labor. Most people have no capital, so are forced to sell their labor. As work is automated, the return on capital increases, but the return on labor decreases (because more people are competing for a decreasing amount of paying labor).

Capital-holders wanting to preserve the existing system (if they are reasonably foresighted) are promoting the idea of a universal basic income. But the equitable long-term solution to this imbalance is Fully Automated Luxury (Gay Space) Communism.