Chicks Dig Capitalists

Okay little Uzi, I've been working on this for a while, so lemme break it down for you. The primary thing you're worried about is what's called "household income" - which is how families get money to buy groceries and pay bills. 🥑 Now, jobs and work are the PRIMARY way that households get money right now. But not the ONLY way! There are actually THREE sources of household income: jobs, government checks, and property. 💹 Like, how some people get welfare and retirement, that's government source. And some people get money from renting out houses they own and dividends from stocks. That's property. Now, as you rightly figured out, jobs are going away. In fact, jobs have been losing power for decades. But the core problem is household income. For the last few centuries, the primary way has been the wage/labor distribution mechanism. In other words, the primary way people participate in the economy is to sell their labor for wages. 🏧 It's been this way for SO LONG that people can't really imagine another way. But there is! It's called stock/flow, which is a fancy way of saying "live off rent and dividends" which is actually how most rich people live today. I call this Post-Labor Economics. Why? Because labor is going away! Now, you might wonder "well how do we get started if we're not rich already?" (This is the most common question!) The answer is that it takes some time, and there are actually many ways that the system, government, and companies can all help create this new economy! One example is to create what's called a Sovereign Wealth Fund. This is like a gigantic stock portfolio that the government runs on behalf of all the people, and pays them dividends, usually on an annual basis, or quarterly. That means you get some money just from being a citizen! 🇺🇸 But labor isn't gone yet, so there are other options to get more capital. One is for employees to own the companies they work for. In America, this is called an ESOP, and I'm England an EOT, and there are plenty of other countries with similar programs like cooperatives. Now, those are just two kinds of programs, but there are many, many more like them all over the world. Citizen dividends, cooperatives, trusts, rebates, and more! Eventually, what we can build is a layered portfolio, so that every household gets checks every month, quarter, or year, from many sources. National, local, and more. AND, on top of that, old school property can stick around, like rent and dividends from common stock. As you correctly point out, without consumer demand, the economy sort of implodes 😅 So, it's in everyone's interests to figure out Post-Labor Economics! There are a lot of other changes that need to happen for this to work, but just because there are many moving parts, doesn't mean it's impossible! For instance, right now, payroll tax and income tax provides most of the funding for the government. Well, if labor and wages go away, so does most of the government funding! Oops! 🫪 That means we would need to reconfigure the tax code to take more from companies and those who profit from AI and robotics and the automation that takes the jobs! Now, some people worry that we simply won't have enough resources to go around, that this can't possibly work. But think about it this way: if AI and robots and automation are good enough to take all the jobs, then they are probably good enough to make all the food, houses, and other stuff we need! Hope this helps 😁