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21st century paradox of the economy

http://www.pieria.co.uk/articles/the_central_paradox_of_the_21st_century

by usumoio • 12 years ago

2 1 12 years ago

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lacero• 12 years ago

"This paradox between our affluence as consumers and our precariousness as workers poses economic, political, and moral conundrums. If we can produce more with less, and workers become redundant, who will buy the goods? A robot can make a mobile phone but it cannot purchase one. Workers are also consumers. Fire your workers, your profits will rise until the day no one can afford to buy your product. Henry Ford was a visionary for paying his workers enough so they could buy his cars."

It's an interesting question. Thoughts?

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