4min chapter

Economics Explained cover image

The Economics of Automation: What Does Our Machine Future Look Like?

Economics Explained

CHAPTER

The Future of Humans

A human that is unemployable has no economic value. The ugly post-automation scenario is likely to become a reality in at least a few countries where the mentality is that people should just work for a living. Having children will be highly discouraged, and things like universal basic income might only be made available to people when they do turn 18. Social welfare may exist, but it will likely be starved due to pure economic forces.

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