In my mind (and possibly in the real world?) it works like this:
A company makes a 10% profit after paying huge labor costs, and we tax that profit to pay for our collective needs. The company all but eliminates labor costs with AI, and profits soar to 90%. We tax that profit to pay for our increased collective needs.
Chart 2 (Ouputs and Wages) illustrates what I have been saying all along: AI is the #1 reason we need universal basic income. Let the AI have my job. But it's got no need for my income, so I keep that!
There are two types of vaccines: prophylactic (to prevent or ameliorate the effects of a future infection by a pathogen) and therapeutic (to fight a disease that has already occurred, such as cancer).
