dfnj
Well-Known Member
Artificial Intelligence and Robotic Automation are making workers obsolete. Consumers are the new working class. It takes hard work to buy products and services. If we want the economy to move at a fast enough velocity so everyone's needs are met, people will have to be paid to do the hard work of consuming. With just-in-time manufacturing and delivery, 100 year old maxims about the economy overheating have no meaning. Modern day factories can scale up and scale down to meet any level of demand. And the cost of paying consumers comes right back to the billionaires in the form of sales revenue. Just like money is created for new mortgage creation, money can be created to ensure economic velocity. The national debt is maintained at a constant percentage of GDP through the taxation of accumulated capital. The amount of money in circulation doesn't matter because the rich get richer, and the working class have enough money to make ends meet plus pay for healthcare and retirement. Everyone wins!!