[menaerus]

I really do wonder what sort of economy change is coming to us because companies will hypothetically need to hire less people to sustain the equal output of today. They can do that basically today so not even hypothetically anymore, it just needs some time to take off.

The question IMO is, who will be creating the demand on the other side for all of these goods produced if so many people will be left without the jobs? UBI, redistribution of wealth through taxes? I'm not so convinced about that ...

[Ray20]

> The question IMO is, who will be creating the demand on the other side for all of these goods produced if so many people will be left without the jobs?

There is no reason why people will left without jobs. Ultimately, "job" is simply a superstructure for satisfying people's needs. As long as people have needs and the ability to satisfy them, there will be jobs in the market. AI change nothing in those aspects.

[menaerus]

I think it very much does. Those exact needs so far have been fulfilled by N people jobs. Today those same needs are going to be fulfilled by N-M people jobs. For your hypothesis to work, human, or shall I say better, market needs to scale such that M people left redundant will be needed to cover that new gap. The thing is that I am not so sure about the "scaling" part. Not to mention that people's skills also need to scale such so that they can deliver the value for scaling the market. Skills that we had until yesterday are slowly started to begin a thing of a past so I am wondering what type of skills people will need in order to get those "new" jobs? I would genuinely like to hear the opinion because I am not really positive that the market will self-adjust itself such that the economy will remain the same.

[falloutx]

UBI is just a pipe dream. The rich are clutching their pearls even harder.

[menaerus]

I think so too.