The highest unemployment rate during the great depression was 24%. The knockon effects of almost 12% of the ecconomy losing work will make that pale in comparison. But hey, this 12% is probably just at the beginning. After all, AI is the worst it will ever be.
This seems like a recipe for guillotines or UBI. Wonder wich the rich will choose?
Edir: was he the first of many?
a “people’s economy that cuts out shareholders” is equivalent to the country (community) holding all the shares, IMO. such a thing is already doable by transfering the ownership of shares to the communities. no fundamentally new system of economy needed, IMO.
just introduce taxes to make sure that transfer of ownership actually happens.
Who’s going to do that? The politicians owned by Israel and the oligarchs…never going to happen. I’m thinking more along the lines of community garden collectives, school collectives, college collectives, moving towards trade and barter, ignoring and enforcing an end to consumer debt…stuff like that