Part 3/9:
This relentless march raises the economic agency paradox: if a company automates 90% of its workforce and cuts costs substantially, it may struggle to sell its products because its customers—also jobless—lack income to spend. As more firms follow suit, economic demand diminishes, threatening broader prosperity even while automation enhances productivity.
Rethinking Household Income Sources in a Post-Labor Economy
With traditional employment shrinking, society must reconsider where income originates. Currently, household income predominantly comes from:
Wages (60-80%), which are declining slowly.
Property income—including stocks, bonds, rentals—comprising roughly 20%.