Stephen Hawking says we should be more frightened of capitalism than robots
Who is behind robot? capitalism
Who is behind robot? capitalism
>"When machines and computers, profit motives and property rights are considered more important than people, the giant triplets of racism, extreme materialism and militarism are incapable of being conquered."
-Dr. King
What's that supposed to prove?
You can't build a consistent legal, or ethical system from the first principle of "Property rights are the most important right."
How would you determine this? Is this not the same argument made by slave owners?
I'm extremely pro-capitalism, but free market economics does rely on a number of assumptions being met in order to function, and only maximizes utility functions for those participating.
If you build a market that violates those assumptions (e.g., massive consolidation of supply) and effectively excludes people from participating (by reducing total volume of work amenable to human intervention), capitalism ... just doesn't work. Wrong tool for the job.
Traditionally we either regulate operations to make them better fit free market assumptions, or regulate outcomes. Whether that looks like communism is a secondary discussion, though if you consolidate supply heavily enough, then yes, you end up with some central supplier choosing what to produce and how to allocate it for all those people that have no resources to create meaningful demand.