Post robotic economy

B

BlueCoder

As robotics replaces human labor how will economics adapt?

It's all boils down to trading. You must be able to produce something that other people want which you can trade for other things. A couple steps removed you work for someone producing something and they give you money directly which for the majority of the population is spent immediately.

The top issue is probably food. For farms you end up with very few producing all the food and labor will be virtually non existent.

Without individuals producing they don't have money to purchase products from businesses. Businesses will have no one to sell to. Few people will be able to earn money.

Economics up to now have been primarily based on labor of some form with the ultimate goal of the production of goods. How will capitalism survive?


P.S. If you know a good forum for this type of discussion please share.
 
Unofficially:
Economics is the social science that analyzes the production, distribution, and consumption of goods and services.
Capitalism is an economic system based on the private ownership of the means of production, with the goal of making a profit.
Money, the main functions of which are distinguished as: a medium of exchange; a unit of account; a store of value.

Related terms, but not equivalent.

Your understanding of economies seems a bit skewed toward labor & tangible goods, neglecting services. And the question posed might better be asked "... how will economies adapt?" Economics will likely still analyze the same metrics, and exclaim surprise at "unexpected" gains/losses that invariably pop up month after month, report after report. Such poor adaptation might one day lead to extinction, but economists still live among us. And I'd be willing to bet they don't much like barter.

The 4th paragraph sounds supply-side-driven. But it often seems, in practice, that economies are equally (if not more so) demand-side-driven.

So long as private property exists and is safeguarded, and exchange of goods & services is voluntary, capitalism ought to do fine.

For those individuals unable to produce, serve instead. It's not only production of tangible goods that drives an economy. (but just in case I'm wrong I did buy farmland!)

Though, personally, I think the dissolution of trust will destroy economies (and more) sooner than robotics. (but just in case I'm wrong I know how to program computers!)
 
Thanks for the forum recommendations Dutch.

And as far as Technocracy I had read about it before and I just don't see everyone else letting engineers run the world. The engineering mindset is almost incompatible with political horse trading and compromising which is required in a society filled with different values, goals and objectives.

For qsecofr:

I do realize I skipped over services such as entertainment. But I wanted to keep the post simple and I'm more interested about fundamentals and population: food and shelter. It's the foundation upon which everything else is built. Once you get those fundamentals down it is easy to integrate services, recreation and luxury.
 
Try these...

BlueCoder said:
Thanks for the forum recommendations Dutch.

And as far as Technocracy I had read about it before and I just don't see everyone else letting engineers run the world. The engineering mindset is almost incompatible with political horse trading and compromising which is required in a society filled with different values, goals and objectives.

For qsecofr:

I do realize I skipped over services such as entertainment. But I wanted to keep the post simple and I'm more interested about fundamentals and population: food and shelter. It's the foundation upon which everything else is built. Once you get those fundamentals down it is easy to integrate services, recreation and luxury.
Click to expand...

Hmmmmmm fair enough. Lets agree to disagree, I do not agree with you.

Technocracy aside, heres one with less fangs, have a look at:
http://www.thevenusproject.com/

Also, look up "zero growth" economics on google as its probably more in line with your line of thinking:
http://en.wikipedia.org/wiki/Zero_growth
 
You must log in or register to reply here.
Back
Top