If automation allows us to work fewer hours for the same pay, what's stopping people from working more hours, anyway, in order to make more money to improve life for their families? That would...
If automation allows us to work fewer hours for the same pay, what's stopping people from working more hours, anyway, in order to make more money to improve life for their families? That would slowly start to become the norm again and then the currency would slowly be devalued because everyone is making more money and prices would be going up to match.
Many/most people would lose their jobs to automation, so there will be many people on basic income. There will still be a difference in earnings, so no devaluation.
Many/most people would lose their jobs to automation, so there will be many people on basic income. There will still be a difference in earnings, so no devaluation.
If automation allows us to work fewer hours for the same pay, what's stopping people from working more hours, anyway, in order to make more money to improve life for their families? That would slowly start to become the norm again and then the currency would slowly be devalued because everyone is making more money and prices would be going up to match.
Many/most people would lose their jobs to automation, so there will be many people on basic income. There will still be a difference in earnings, so no devaluation.