Comments by "PeterC" (@peterc4082) on "How Money Works" channel.

@WaryofExtremes You're not thinking it through. There is no automated everything because you'd need to make machines which can make other machines, repair other machines, mine raw materials, transport them, process them, etc. You'd need to replace all human reliance in one go. As such we're nowhere near close to that. We have some AI in computers and we have some assembly line robots. Those still need people to fix them. Someone has to mine the materials. Someone has to transport them. Someone has to ship them. Someone has to judge them. Process them. Take all the subcomponents and assemble them. Even if machines assemble cars, they don't assemble to sub components etc. Secondly with so many people having nothing to lose they'd destroy the machines and the links and communications and that would be that. Things you describe are not possible. They exist in movies but not in reality. The West relies heavily on keeping their populations occupied. If that goes away, it will be massive civil war and the rich will be overrun and dispatched by unruly mobs. I don't advocate this but that's what happens and has happened in history. Look at the French Revolution or the Russian Revolution or the conflict in Spain.
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@ecognitio9605 Many of those ultra rich will also be replaced by AI. In fact if AI is so fancy and can fix itself, stock will be meaningless. Something else will come along, Meanwhile the billions without work will rebel and there will be mass violence and they may overthrow the billionaires as the French did in their revolution.
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@goshawk17 People live for purpose. But working for money to do stuff gives people purpose and it keeps the occupied. If you remove that, you will have poor people who have nothing left to do. You could pay them off with a universal basic income grant but even so they will have nothing to do. They will find things to do and they make rise up and cause unrest and even civil war.
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@goshawk17 Dude, you're speaking in platitudes and dreams. Ponies and unicorns. Since written history began, rulers needed to occupy their people and keep them busy. For instance wars kept people busy. All the angry guys would get un-alived off. Likewise work would keep people busy. In a country like South Africa, where unemployment rates are high, youths join gangs or do crime in small groups and many others join political movements which cause unrest. There are waves of unrest which occur such as occurred 2 years ago in the province of Kwazulu-Natal. SA is not unique here. This happens across countries, cultures and epochs. I'm surprised you don't know this. Work keeps people busy, doing the work or studying to do the work. if you bring in AI for everything and have most people do nothing, that will lead to serious unrest, disorder, crime and maybe even overthrow of the system.
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Very simplistic. Since always work wasn't only about productivity but about keeping people busy. Idle hands do the devil's work. In Rome they had bread and circuses. Work gives meaning to billions of people and keeps them busy. It keeps them focused, allows them to focus their energy on that and not on envy or pride or boredom and then violence and so on. So if AI replaces all work and billionaires will have control of the AI, 99% of the population will be poor and maybe will live on these grants but they're going to not have anything to do. There will be wars, crime and unrest. It won't be pretty. Society will be worse off than it is now.
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No. The real deal is that without work, people will lose meaning in their lives and they'll have nothing to do. Work occupies people. It keeps them focused on activities of work and getting to work, getting back home, preparing for work, studying for work, etc. But if work is replaced with some handout of money, these people will be idle. Time won't be spent on recreation. It won't be spent on education. It won't be spent on emotional family things. Much of it will be spent on boredom and envy and perhaps mass unrest.
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@tigerowlmonkey The US had way more than that in Afghanistan and it didn't help one bit.
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@Jose-r2p6z We'll see if Trump can bring the businesses back to the US.
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@WaryofExtremes No they won't. Even Zim is very civilised with functional roads, airports, etc. But if war breaks out there will be. No power to that rich compound. No food to that rich compound. No medicine to that rich compound. No employees to work. there. Where do you think the employees live? Or do you want to have a second compound for the 1000s of people to support these people? Who will grow food for these people? Maintain everything? It will collapse. Once people have nothing to lose it will be total anarchy and nobody will be safe.
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@Darium147 Think for a moment. To have the robots pulverize anything you'd need an army of 10s of 1000s or maybe 100s of 1000s of robots. Such armies would not sprout overnight. You watch too many Hollywood movies or watch too much anime.
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