The problem is that wages are only like 30% of the cost of a product. The rest is materials and company profit.
If wages drop to zero because AI does it, then yes, the cost of products is also gonna drop, but only by 30%, while your wages drop by 100%. You see the issue: decreasing purchasing power. Maths.
The problem is that wages are only like 30% of the cost of a product. The rest is materials and company profit.
If wages drop to zero because AI does it, then yes, the cost of products is also gonna drop, but only by 30%, while your wages drop by 100%. You see the issue: decreasing purchasing power. Maths.
That’s assuming that new jobs aren’t created.
deleted by creator