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What happens when everything gets automated under capitalism? Does it just become socialism by that point? (lemmygrad.ml)

submitted 1 week ago by SovietReporter@lemmygrad.ml to c/asklemmygrad@lemmygrad.ml

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[–] NikkiB@lemmygrad.ml 10 points 1 week ago (1 children)

I would research "tendency of rate of profit to fall." No, automation is not socialism, though it is more viable with socialism than capitalism in the long term.

[–] SovietReporter@lemmygrad.ml 1 points 1 week ago (1 children)

So, what could happen at the end? Once the rate of profit becomes 0?

[–] NikkiB@lemmygrad.ml 2 points 1 week ago

Presumably a massive economic crash. This has obviously never happened, it doesn't even "fall" consistently over time due to the repeated capture of new markets overseas. Marx is just describing the consequences of "automation" under capitalism, or more generally the outsourcing of human labor to machinery.