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Hollywood can’t ditch its Teslas fast enough: “They’re destroying their leases and walking away”
(www.hollywoodreporter.com)
this post was submitted on 22 Sep 2024
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I think the underlying dynamic there is that automation in one industry led to cheaper goods, which led to consumer savings, which led to greater demand, which led to increased employment in other industries that eventually absorbed the displaced workers.
The differences with the current situation are that, firstly, decades of corporate consolidation have reduced competition and enabled automators to channel most of the savings to corporate profits instead of lower prices; and secondly, the fact that automation is affecting the whole economy at once instead of a specific industry means that an economy-wide increase in demand doesn’t cause a corresponding increase in the demand for labor.
So if the difference is corporate consolidation... Sounds like that's the real underlying issue then, not automation.
Economics has well established that monopolistic behavior by firms harms consumers & the overall economy (that's why we have anti-trust laws in the first place).
Don't conflate the one problem with another, as I agree the erosion of anti-trust laws is a bad thing and needs to be reversed. But that doesn't mean firms further automating things is now also bad.
I'd also say "automation affecting the whole economy at once" isn't unique. The industrial revolution was not isolated to one industry, its effects were economy-wide. Also true for the transportation revolution (trains & steam boats moved everything), telecommunications, and the internet...
No one’s been arguing against automation per se—the comment you originally replied to was asking what the plan was after automation. Because the marginal effect of automation in the current economy, if corporations are left to their own devices, stands to harm as many as it benefits.
And yes, the industrial revolution isn’t a bad parallel for what we’re potentially facing now. It brought about some of the most miserable conditions working people have ever endured short of slavery, and it took the labor movement several bloody generations to end the worst of it.