Already happens: Capitalism destroys human labor force and goes to the next phase

[no more banksters]

Connecting the dots one can discover the most nightmarish scenarios. Destructive capitalism's next phase is the total substitution of the human labor force with robotic machines, or in other words, the hyper-automatization. There is a process taking place right now, and no one (or nearly no one) knows what would happen after its completion.

[link:http://failedevolution.blogspot.gr/2014/05/already-happens-capitalism-destroys.html|

[TexasProgresive]

1. It sounds like we are progressing as Karl Marx postulated.

I am no student of Marx but the little that filtered into me by osmosis was that Czarist Russia and feudal China did not fit the mold of systems he predicted would evolve into communism. It was capitalist systems that would break down and become his utopian society. I am not sure whether the post-capital world would be utopian but his analysis on the breakdown of capitalism seems to be right on.

In the Marxian model, increased capital accumulation will increase the demand for labor. As wage rates rise, what keeps surplus value and profits from decreasing to zero? Marx's answer to this question lies in his concept'of the reserve army of the unemployed, which plays the same theoretical role in his system as does the Malthusian population theory in the classical model. According to Marx, there is always an excess supply of labor in the market, which has the effect of depressing wages and keeping surplus value and profits positive. He saw the reserve army of the unemployed as being recruited from several sources. Direct recruitment occurs when machines replace humans in production processes. The capitalists' search for profits leads them to introduce new machines, thereby increasing the capital intensity in the economy. The workers displaced by the new technology are not absorbed into other areas of the economy. Indirect recruitment results from the entry of new members into the labor force. Children finishing school and housewives who desire to enter the labor market as their family responsibilities change find that jobs are not available and enter the ranks of the unemployed. This reserve army of the unemployed keeps down wages in the competitive labor market.

The size of the reserve army and the level of profits and wages vary, in Marx's system, with the business cycle. During periods of expanding business activity and capital accumulation, wages increase and the size of the reserve army diminishes. This increase in wages ultimately leads to a reduction in profits, to which the capitalist reacts by substituting machinery for labor. The unemploy­ment created by this substitution of capital for labor pushes down wages and restores profits.
http://www.economictheories.org/2008/07/karl-marx-capitalism-marxism-critique.html