Part 5/12:
The goal? Automate to slash costs but keep prices stagnant or even increase them, with higher profit margins as the primary payoff.
The Impact on Consumers and the Economy
The speakers debate how consumer habits will shift in response. Neon predicts that as companies decrease employment and increase automation, prices may go up because of increased operational costs, or companies might shift the burden onto consumers. There’s also concern that automation will cause widespread unemployment, reducing consumer spending power and possibly leading to a resurgence of local shopping and barter economies.
Neon notes the nostalgic contrast with the past: