Prices don't represent anything absolute, they just capture the cost of reallocating a marginal number of goods to produce this particular thing instead of some other thing.
If there is so much of something that everyone can have one, effectively prices would drop until everyone could afford one. Like how even homeless people can afford air, because there is so much of it that there is no point charging people for access. Or YouTube they just let anyone watch it because it is so cheap to push bytes out over the internet.
Removing humans from the production process would, in theory, be similar. There is a certain amount that gets produced and we come up with some way to allocate it. Prices and wages adjust to that reality.
> We can see this logic reflected at times in business history. Ford paid workers double the daily wage so they could afford the cars they built...
That just so story is probably a lie. The math wouldn't work out and Ford would know it - he was just competing with other companies for labour. It is like programmers getting paid huge amounts - it isn't because the companies think it helps them because of some vague circular logic about what happens in the broader market. They just need the skills, now.
If there is so much of something that everyone can have one, effectively prices would drop until everyone could afford one. Like how even homeless people can afford air, because there is so much of it that there is no point charging people for access. Or YouTube they just let anyone watch it because it is so cheap to push bytes out over the internet.
Removing humans from the production process would, in theory, be similar. There is a certain amount that gets produced and we come up with some way to allocate it. Prices and wages adjust to that reality.
> We can see this logic reflected at times in business history. Ford paid workers double the daily wage so they could afford the cars they built...
That just so story is probably a lie. The math wouldn't work out and Ford would know it - he was just competing with other companies for labour. It is like programmers getting paid huge amounts - it isn't because the companies think it helps them because of some vague circular logic about what happens in the broader market. They just need the skills, now.