Corporate revenue collapses since human consumers do not have the means to buy product. It leads to demand destruction at an all-time level.
At the same time, there's a massive deflationary supply shock, thanks to democratization of production and the cheap ubiquity of AI-led labor.
The direct consequence of the aforementioned is: a price collapse, across the board.
Which in turn, also leads to unprecedented tax revenue collapse.
Who is the government going to tax when no individual or corporate is making any money?
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To me, all this heralds a post-capitalism society, and not a "I-lost-my-job-and-I'm-now-poor" society. Once everyone loses their jobs, capitalism is over.
You'll have an interim period of distress - where the world is transforming toward post-capitalism, but isn't squarely there yet. But the final equilibrium intuitively feels more Star Trek or Terminator (if you're a doomer), and much less Elysium or Ready Player One (few oligarchs, most population under poverty line).
Correct me if I'm wrong.
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