My fear is that the future of work for most people is not unemployment, but shitty jobs like this. My feeling is that in order to avoid this and prosper, the people need to own the robots that do all the work (Marxism heyy). If robots provide huge productivity gains, then they will provide those gains for their owners. If it’s the big corporations that own them, they will see the gains. But as long as people are trea…
But I do already own some of the robots. I have Amazon stock in my 401k. That's what "the people owning the robots" looks like. What you're getting at is that there are many people right now who are too poor (and are going to be too poor) to ever own any part of the robots. This century's great debate is forming up to be whether or not we should give them some anyway even though they can't "earn" it for whatever movi…
Is it though? Correct me if I'm wrong, but doesn't stock only generates value if it increases in price (or the company decides it wants to pay dividends), and not directly from the productivity of robots?
To put it a bit more clearly, your stock only makes you money if Amazon keeps growing. Let say Amazon were to reach a theoretical maximum size: profits and value stop growing. It would still generate massive amounts of money but would it be obliged to give you a cut of it?