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Another h/t to melo:
You Are Expendable | The Agonist
Sustainable in terms of population, resource utilization, capital formation, debt, energy utilization, throughput of goods, and the inevitable decline in labor needs. It is a truly new world, but not one of decaying infrastructure, but of hyper efficient infrastructure.

...

Goods and services are going to have to be allocated in the system at a higher level than it is without relation to labor input. This is somewhat occurring at both ends of the age spectrum, and among women. The old receive a modicum of income and care beginning at 65 and they are being compensated without labor. The young are raised by parents to 18, and this is extending in recent years to 22 to 26 as educational requirements are growing. If the average age is 78 then 26 plus 13 years (39) of it are starting to be compensated without labor. About half. Social welfare programs, unemployment insurance, food stamps, and other forms of government assistance probably are beginning to take off another 5 years or so (I think it is up to 8 or 10 right now). Thus, 44 of 78 years are being subsidized as a means of taking surplus labor out of the pool (56% of your life is subsidized without labor input).

In the new economy that is not going to be enough. The efficiencies of computing and robotics is going to bring it lower probably to the tune of twenty more years, and somehow there is going to have to be a regime for paying for it all. Labor is the primary means of dispersing dollars, and it is going to stop working sometime in the next twenty years.

(my emphasis)

Spain just recently approved a €420/mo subsidy for those whose unemployment benefits ran out (after 18 to 24 months, I believe) after January this year. I don't believe that subsidy is going away.

En un viejo país ineficiente, algo así como España entre dos guerras civiles, poseer una casa y poca hacienda y memoria ninguna. -- Gil de Biedma

by Migeru (migeru at eurotrib dot com) on Wed Oct 7th, 2009 at 09:43:37 AM EST
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