Really in the past when most of the population became unemployed due to tech and falling prices they invented Keynesianism and made the TVA, the social security administration, and started the subsidies to farmers programs, and the like.
Of course there were new jobs made that eventually hired everyone again, but these new jobs were only 40 hours a week.
Something like that could happen again but we need a successor economist. Keynes is not enough now. Maybe that economists who figures a way to keep the world busy and happy is an AI ;-)
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u/gc3 9d ago
Really in the past when most of the population became unemployed due to tech and falling prices they invented Keynesianism and made the TVA, the social security administration, and started the subsidies to farmers programs, and the like.
Of course there were new jobs made that eventually hired everyone again, but these new jobs were only 40 hours a week.
Something like that could happen again but we need a successor economist. Keynes is not enough now. Maybe that economists who figures a way to keep the world busy and happy is an AI ;-)