In a capitalist market economy with a small public sector, that’s definitely the expected outcome. In fact it would be worse than you describe. It’ll produce big problems with the ability of the economy to consume its production since people rely on wages to buy that production. Wages that woild go away due to automation.
In a mixed economy with a very large public sector, public co-ownership of large private firms, and 10% of the population (and growing) being members of the party that controls it all, the outcome may be different.
In a capitalist market economy with a small public sector, that’s definitely the expected outcome. In fact it would be worse than you describe. It’ll produce big problems with the ability of the economy to consume its production since people rely on wages to buy that production. Wages that woild go away due to automation.
In a mixed economy with a very large public sector, public co-ownership of large private firms, and 10% of the population (and growing) being members of the party that controls it all, the outcome may be different.