alt Hacker NewsOne thing rarely mentioned is what happens when all the white collar people lose their job and can no longer pay for expensive blue collar work?
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bpodgursky • today at 4:04 AM
Well, in principle the economy scales to the labor constraint.
Obviously there are practical limitations to how fast things can rearrange but there's no reason in principle you couldn't have an economy where everyone retrained into blue collar work, and all white collar job needs were handled by the magic internet box.
Simple enough, one group will be living in houses falling apart, the other group will be renovating distressed cheap housing into relative mansions to live in or flip at cost or less.