> Think long term. Eventually AI will be able to do most of human jobs. As a result, products and services will become cheaper. As a result, people will have to work less for a living. As a result, more people will be able to draw and paint for pleasure, and not necessarily to make a buck.
This is ahistorical. The fact is that you must at least seem to produce more market value than your total compensation in order for a company to hire you. There will simply be less people who make a "livable" wage while those who own these automations will become increasingly wealthy. Depending on how the market changes, there may also be increasing unemployment. But why would that matter? Unless unemployment gets too high, the market will continue to work as usual.
There's simply no reason for the owners and inheritors of an increasingly automated economy to share the value increase with their workers. The worker's wages will be market-determined just as before. Perhaps if unemployment gets too high it will be in their interests to offer something like UBI, though no reason for anything beyond what's strictly necessary for the economy to function, and the minimum required to avoid excessive social turmoil.
In the United States, the labor force participation rate for men has been in secular decline since 1950 (and perhaps earlier—-the Fred data only goes back to 1948):
This is ahistorical. The fact is that you must at least seem to produce more market value than your total compensation in order for a company to hire you. There will simply be less people who make a "livable" wage while those who own these automations will become increasingly wealthy. Depending on how the market changes, there may also be increasing unemployment. But why would that matter? Unless unemployment gets too high, the market will continue to work as usual.
There's simply no reason for the owners and inheritors of an increasingly automated economy to share the value increase with their workers. The worker's wages will be market-determined just as before. Perhaps if unemployment gets too high it will be in their interests to offer something like UBI, though no reason for anything beyond what's strictly necessary for the economy to function, and the minimum required to avoid excessive social turmoil.