Beyond Labor Ownership, Distribution, and Human Value in the PostAutomation Economy

Abstract

Artificial intelligence and automation are not a technology hype, it is transforming our economy just like the agricultural and industrial revolutions redefined it. The article discusses the ways in which the production costs are approaching zero because of complete automation, and in doing so, alter the long-term equilibrium relationship between labor and income in capitalism. The work provides a model through which value creation and capture in a post-labor world will change by considering four emerging economic models such as ownership economy, universal basic income, human premium markets, and experience economies. The study combines the recent economic developments, past cases, and emerging concepts of redistribution. It offers realistic policies that individuals and organizations can adopt to place themselves in this dynamic environment. The most significant insights reveal that the next decade is the period of critical economic repositioning. The future economic viability will be determined by early decisions regarding the ownership structures, development of human premium skills and the manufacture of products based on meaning. The article claims that the decoupling of income and labor is not a far-off fantasy but a reality that is bound to happen. There is need to develop through strategic adaptation, and not development of skills.