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4/17/2023 08:48:00 AM
> the market economy will still exist. Yes! In fact market economies are entirely compatible with socialism. This is a big misunderstanding (especially among Americans who aren't well educated on what capitalism and socialism mean). Socialism is not equivalent to government control or a command economy, and there's even a subset of socialist policy called market socialism (which is what I subscribe to as our most realistic future economic system). I encourage you to read a little about an idea called [economic democracy ](https://en.m.wikipedia.org/wiki/Economic_democracy), which is a form of market socialism that centers around democratic worker ownership. We have to think ahead to how in a post-scarcity society will we use democratic mechanisms for distributing resources so that the massive exponentially increasing surplus isn't captured by a smaller and smaller ownership class. That's exactly what democratic market socialism and economic democracy aim to achieve. And to your point (a) automation absolutely already has driven labor prices down relative to GDP. It's one of the major drivers of global income inequality and a major hurdle that needs to be dealt with ASAP. Edit: if you don't have time to read the Wikipedia I'll leave you with my favorite quote on the subject: "democracy is not just a political value, but one with profound economic implications, the problem is not to choose between plan and market, but to integrate these institutions into a democratic framework."