We don’t live in a post-scarcity society, so the rules of nature still apply. People need food, water, shelter, energy and someone has to work to provide those things.
My fellow Lemmy user, we dont live in a post-scarity world because profits matter more than people in our Capitalist Society. We could live in a post-scarity world, but that would come at the cost of profits for the 1% who do effectively zero work.
We could live in a post-scarity world, but that would come at the cost of profits for the 1%
No we couldn’t. If those profits went away, it wouldn’t lead to a post-scarcity society, those companies would simply cease to exist. Along with the goods they produce and the jobs they create.
Actually, they wouldn’t cease to exist without profits. Profits are income in excess of expenses.
Without profits, investors don’t get dividends. Businesses can be entirely successful without every turning a profit because they “only” produce goods and distribute the income entirely to cover costs including labor.
If we did something radical like taking ownership of companies away from investors and holding them in public trust, you wouldn’t see the companies cease to exist, you’d see prices come down, wages go up, or heavy infrastructure investment.
Profit is an indicator of market inefficiency. The equilibrium state for a market is zero profit.
