I worked in a GM factory for about six months. There were a lot of big robots. There were some people around, but not nearly as many as I thought would be in a factory. Even during a fire drill, when everyone had to empty the building and go to the parking lot, it still didn’t look like that many people.
These masters of the universe, running America’s top companies, the so-called “job creators,” are already making in some cases 400 times as much as the median annual worker pay. If you can be comfortable walking among the masses knowing you make a huge amount of money more than them, what’s to stop you from wanting more? These CEO’s, aka: Masters of the Universe – they are making plans to make more robots to cut those pesky labor expenses (has someone told them that they are people?) Look at the Appian website, second paragraph if you’d like to understand the Masters’ of the Universe perspective. This is big business, the ultimate goal is for the company to not have to pay people.
The problem with this logic is that it defies basic economic principles. In an earlier blog I refer to this Masters of the Universe blind spot as, “Easter Island Economics.” The fundamental question, with all this productivity gain and decrease in labor costs – who exactly is going to buy your product or service, Chief Executive Dimwit? Unfortunately for the ruling class, they need us peasants to keep them on top. This argument is presented by super cool economist of the New School, Jeffrey Sachs in his premise that there is really no reason for poverty.
So how on earth are people going to eat, pay their bills, do people things. How to survive if they don’t have jobs? Tax the robots.
Bill Gates seems to think if that a drone takes your job, it should pay taxes. Apparently, Bill Gates, one of the richest people on the planet, has a backbone. There was a time when rich people, business leaders like the Itasca Project of Minneapolis, actually felt it was their duty to help people who weren’t as blessed as them. It’s an old concept called, “Noblesse Oblige,” or a sense of civic duty. The thing is that by ensuring economic stability for the lower classes, it enables rich guys to actually make more money because it stabilizes entire economies and gives them great foundations to grow on.
Huh, imagine that!