Monday, September 12, 2016

“Who will own the robots?”

Click here to access article by economist David Ruccio from Occasional Links & Commentary

Ruccio comments on a recent article published in a research journal of the International Monetary Fund, and reaches this conclusion:
The assumption about the unequal distribution of capital income is, in fact, the appropriate one for the existing set of economic institutions. As the authors understand, the only way to change their dystopian prognosis is to fundamentally change the distribution of capital income.

And, if we’re going to be honest, the only way to do that is to eliminate the private ownership of the robots and the rest of capital.