Comment on If everyone is fired by AI, who's going to buy the products and services made by the companies if no one has money anymore?

deadlyduplicate@lemmy.world ⁨3⁩ ⁨months⁩ ago

Look up crisis theory, the rate of profit tends to fall in capitalist systems. Because each company is driven by competitive self-interest, it is incapable of acting for the good of the whole. You simply cannot devote resources to anything but trying to out-compete your rivals and in doing so the profit for everyone tends lower and lower until you have a crisis.

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