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

The transcript discusses potential future scenarios in a post-automation world. It explores the concept of universal basic income and the division between the wealthy and the rest of society. The rich may live in luxury but face societal issues. In some countries, a lack of universal basic income could lead to economic hardship and population decline. The transcript questions the value of human labor in a fully automated economy and the potential consequences for society.

What are the implications of a universal basic income structure in a society dominated by automation?

How might the existence of a peasant class affect the overall economy in a post-automation world?

Discuss the potential consequences of a society where the average consumer is deemed less important to the economic system.

What factors could lead to massive population declines in a fully automated economy?

In what ways has technology impacted the productivity of workers, and what might happen if humans are no longer the creators of value?