Banks require customers with sufficient income to service debt; if customers become unemployed through automation, banks must foreclose on assets, creating a lose-lose situation as foreclosures are inefficient wealth destruction.

causalpending

Speaker

Unidentified Speaker — Post-Labor Economics Lecture 02 - "Economic Agency Paradox"… [99umv8qIWVo]

Evidence Quote

If their customers are broke...the bank is just going to be foreclosing on everything...if everyone is fired, then they're going to have to foreclose on literally everything

Source

Post-Labor Economics Lecture 02 - "Economic Agency Paradox" (2025 update)David Shapiro
Created: 8/11/2026, 7:28:39 AM

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