That’s a complex question. You are asking about general equilibrium effects: where the economy will be once companies and workers across industries all adjust to large-scale automation.
Folks who work in roles that are automated away could find employment in other, presumably less well-paid, roles. Or they could end up being the technicians and engineers who manage the automated processes.
The companies can remain profitable even if the purchasing power of workers declines. Their cost could fall due to automation, and their price mark-ups could increase if they manage to drive competitors out of business. So those who own the companies that survive could do well in all this.
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That’s a complex question. You are asking about general equilibrium effects: where the economy will be once companies and workers across industries all adjust to large-scale automation.
Folks who work in roles that are automated away could find employment in other, presumably less well-paid, roles. Or they could end up being the technicians and engineers who manage the automated processes.
The companies can remain profitable even if the purchasing power of workers declines. Their cost could fall due to automation, and their price mark-ups could increase if they manage to drive competitors out of business. So those who own the companies that survive could do well in all this.