If AI and robots take our job how will we earn money?

There are basically these ways to earn money:

Working and earning a salary.
Owning stocks and bonds thus getting dividends, interest and capital gains income.
Receiving money from the government as welfare.

The equation has another side:

You salary is payroll expense for the company you are working for.
Stock dividends are distributed retained earnings of the company. Interest from government bonds are coming from taxes.
Money you get from the government is coming from taxes.

If AI and robotics reach the point where they can do all the jobs humans can do, you can no longer earn money by doing a job for a company, so one of the element completely drops out. From that point you can earn money two ways: what the government gives you, and what your investments give to you.

But you can't expect the government to just give money to you. At best you can expect very small universal basic income that can save you from starving and save you from freezing to death in the winter or from dying of heat stroke in the summer. It only provides mere biological survival and nothing more. So the only way left is building a portfolio of stocks and bonds and live on the dividends and interest. In general you need to invest $300 in order to receive $1 a month. You need to do this while you can, because once AI takes all the jobs, that's the only income you will have.

I expect the society to eventually split into 2 castes: the one that own means of production, the Haves, and the ones that don't, the Havenots.

The haves receive dividend, capital gains from stocks, and interest income. They will then spend this money on goods produced by the robots. Since there are no humans to employ, the money simply flows through corporate accounts. It gets taxed so the state can pay out interest. The remaining is retained so the company can grow which increases the stock price so the owners get capital gains on their stocks. Or the retained earnings is distributed so the owners can get dividend, and the cycle is closed.

The havenots on the other hand are completely out of cycle because they have no stocks and bonds, therefore cannot get dividend, cannot get capital gains, cannot get bond interest at all. The only means of production they have is themselves. Since they don't have access to robots they still need each other's help. So there is some kind of employment, maybe self-employment. But there are no money, so there maybe some form of mutual credit system evolves that avoids money altogether. Hmmm, mutual credit, maybe that also worth a post.

If AI and robots take our job how will we earn money?

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