Introducing the Zero Labor Factory (90% Free Actually); Robots at Chili's, Applebees, Panera

Mike Shedlock writes about Introducing the Zero Labor Factory (90% Free Actually); Robots at Chili's, Applebees, Panera.

There is no shortage of labor. There is no shortage of skills either. Rather, there is a shortage of people willing to work for what factory owners are willing to pay.

And with cheap money everywhere you look, there is plenty of money at low rates to buy robots.

Emphasis Mine

Now, we are entering another crisis in Capitalism: the elimination of profits through the elimination of labour in Department II. Robots cannot be exploited to provide surplus value which is the origin of profit in a Capitalist system.

Robots work as fast as they are able. You cannot force robots to work faster or longer. Robots are unexploitable.

And the reduction in the labour forces means that there are less consumers able to buy the cheaper goods. Thus, Capitalists will find it harder to convert commodities into cash.

In a Communist society, all of these automated factories would be owned by the whole of society and the goods produced would be available to all as needed. Profit is no longer needed to keep the economy going.