Capital costs will rise when we run out of cheap energy, but I doubt that will be sufficient.
IMO, the ethical way to get there is through a basic income guarantee (http://en.wikipedia.org/wiki/Basic_income_guarantee).
With it, minimum wages could be abolished. Then that flood of low-paying jobs will materialize, not out of thin air, but out of China. It will, likely, also bring back jobs in shoe repair and the like.
Capital costs will rise when we run out of cheap energy, but I doubt that will be sufficient.
IMO, the ethical way to get there is through a basic income guarantee (http://en.wikipedia.org/wiki/Basic_income_guarantee).
With it, minimum wages could be abolished. Then that flood of low-paying jobs will materialize, not out of thin air, but out of China. It will, likely, also bring back jobs in shoe repair and the like.