This was also posted to Mish Shedlock’s Blog in response to a poster who correctly pointed at the seeming irreconcilable absurdity of eliminating wage labor for profit with innovation and AI:

J: The autonomous truck puts drivers out of work. Drivers have no money, so they don’t buy anything from the store The store goes out of business and stops buying inventory. As a result, there is nothing for the autonomous truck to deliver and the trucking company files for bankruptcy. The trucking company execs who thought they were so smart putting drivers out of work are now out of work as well

Me: Exactly…..and good!!! Implement a middle class universal Dividend and a price deflationary discount to retail prices thus integrating Austrian and Social Credit economics. Let the robots produce more for less and with less resources (and of course we’ll also have a lot more employment despite its diminishing trend above than if we do not implement such policies) and then we can come out of our homo economicus false and hypnotized state of mind, re-discover nature, our neighbors, positive and constructive self determined purposes galore and maybe even accomplish the REAL purpose of Life…cultivating graciousness toward each other and the planet.