"If automation replaces workers, consumers will no longer have wages to spend. Companies will effectively automate themselves out of a customer base. Some new mechanism would need to replace employment as the pathway whereby wealth transfers downward to the general public, to the consumers.
Instead of money transferring downward through human employment, it could transfer downward through taxation of the record profits of corporations that no longer have to pay for human labor. The S&P 500 is already reporting 1/3 more profit than before the recession while employing fewer human workers. The establishment of a universal living wage paid unconditionally would then distribute a guaranteed basic income to the public, without means testing. Governments would be able end traditional social security, welfare, food stamps, housing assistance, energy assistance, etc., as everyone will have guaranteed income to purchase their basic needs. And businesses will compete in the free market to earn the universal wages of the public.
People wanting more than the universal wage could go to college using the universal wage to pay their bills while they train for the available human jobs or explore new ideas that could advance humanity. Or they could save up or pool their wages as capital to start their own businesses. Or they could volunteer for a cause they believe in, pursue creative enterprises, or try a venture they love without risking poverty if they fail."