As the article mentions, the pie needs to be better distributed. The pie will not shrink. McDonalds will be selling the same amount of burgers if not more, but the profits will have to be distributed to people who can not find work.
if (unemployment >= 0.5) {
sales = sales * 0.5;
}
People point to previous paradigm shifts and "mass unemployment didn't happen then". But what if this time is different?For what is a man profited, if he shall gain the whole world, and lose his own soul? Is it better to be the CEO of McDonalds in a post-scarcity world with UBI (paying high marginal tax rates), or the head warlord in your own personal Mogadishu?
Obviously this is not going to be a universal thing and some sectors will be hit harder than others. But are we projecting 5 years or 50. It would be naive to think that there couldn't be a 10% unemployment in 50 years because of this stuff (not saying that it will happen, but that you have to consider that there's a nontrivial possibility). So you have to take the question seriously. IF that is where things are going, how do you transition smoothly?