Work Won’t Be Scarce – It’s Paid Work That Will Be Scarce

Tuesday, June 14, 2016
By Paul Martin

by Charles Hugh-Smith of OfTwoMinds blog,
Jun 14, 2016

The great fantasy that many are depending on to solve the decline of paid work is taxing the robots and software that ate all the jobs. These taxes are supposed to pay for the Universal Basic Income that everyone will enjoy once work is automated and jobs become scarce. The problem with the fantasy is that profits only flow to what’s scarce, and as the tools of automation are commoditized, they will no longer be scarce.

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