Introduction
Automation and artificial intelligence (AI) are poised to radically transform our economy. Tech leaders like Sam Altman and Elon Musk predict a future where workweeks are reduced to 32 hours and Universal Basic Income (UBI) becomes the norm. However, behind these promises of social progress lies a fundamental paradox: who will buy the services if everyone is replaced by machines?
The Illusion of Liberation through Automation
Tech companies boast that automation frees workers from the need to work to survive. Yet, this idyllic vision overlooks a crucial detail: an economy based on consumption must have consumers. If AI replaces many jobs, who will purchase the products and services?
Historically, the idea of transforming workers into consumers is not new. In the 19th century, with the end of slavery and the rise of industrialization, companies had to adapt their economic model. Workers, once deprived of any purchasing power, became potential consumers, thus stimulating demand for goods.
History Repeats Itself
Consider the example of Réunion after the abolition of slavery in 1848. Former slaves were replaced by contracted workers, paid meager wages and subjected to manufactured debts. This system allowed plantation owners to retain their economic grip. Today, automation might create a similar dynamic: replacing workers with machines while introducing systems like the UBI to maintain a consumer base.
UBI: A Solution or a Trap?
UBI is often touted as a solution to disruptions caused by automation. However, it might just be a band-aid on a gaping wound. By providing just enough money to survive, without enabling a real improvement in living standards, UBI could perpetuate an economy of minimal consumption.
According to a McKinsey study, automation could replace up to 800 million jobs worldwide by 2030. This reality raises the question of the economic viability of the current model. Will UBI be enough to compensate for the loss of purchasing power and stimulate demand?
The Future of the Consumer Economy
For automation to be an economic success, our consumption model will need to be rethought. Companies will need not only to produce but also to ensure that their products find buyers. This might involve innovative economic models, such as accessible subscription systems or collaborative platforms.
Policymakers and economic leaders will also have a key role to play. Fiscal policies, investments in education and vocational training, and support for creative and innovative industries will be essential to navigate this new economic era.
Conclusion
Automation and AI offer incredible opportunities, but they come with major economic and social challenges. Successfully transitioning will require creating a balance between technological innovation and economic viability. Let's not let automation become an endless cycle of production without consumption.
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