When will people stop with that Henry Ford myth? You don't have to pay employees a high wage so they can afford to buy things that are produced.
You hear it when automation is mentioned: "Businesses are constantly automating production, so who is going to buy the output?". The answer is that other robot owners can buy it or the producer himself can consume it. The type of goods produced changes. Instead of cheap cars or pillows, you have more yachts, boats and other luxury items.
You hear it when automation is mentioned: "Businesses are constantly automating production, so who is going to buy the output?". The answer is that other robot owners can buy it or the producer himself can consume it. The type of goods produced changes. Instead of cheap cars or pillows, you have more yachts, boats and other luxury items.