Automation in the Information Age is different.
True enough, but not deep enough.
The problem isn’t automation, it is how we measure value.
The use of markets made sense when most things were scarce.
In an age of the exponential expansion of automation, market values make no sense, as they necessarily value any universal abundance at zero.
How we deal with that will define our survival probabilities.
If we place the values of individual sapient life highest, followed by individual liberty, followed by the necessary derivative social and ecological responsibilities, then we can transition our money system by modifications like Universal Basic Income and a prohibition on positive interest rates, and we might just manage to create a cooperative path to security and longevity for all.
Any reliance on the idea that unrestrained markets are capable of delivering security is unlikely to end well for anyone. It is a logical nonsense in an age of fully automated systems.
So yes – it is different this time.
Yes it requires a response that is of an entirely new category.
And it can be, and needs to be, the most positive thing yet to happen for the security and freedom of sapient individuals (human and non-human, biological and non-biological).
That is not a logical possible outcome from within a market based competitive context. We have to start thinking and acting outside of that particular box if we want a significant probability of surviving.