I agree that people would probably hibernate as a solution to job loss, which would reduce labor market competition during economic slumps. During hibernation, they would not need housing, food, entertainment, or transportation. This would be easiest for single people—though I suppose married couples or entire families and tight-knit social groups might arrange to hibernate simultaneously.
While labor market competition would become less desperate, the actual number of available candidates would go up, as employers would be able to thaw out prospective employees as soon as they acquire openings. The biggest danger would be to people who have obsolete skills or no skills, and also have no interest-bearing assets or passive income to pay their living expenses. They might end up stuck in indefinite stasis in a large government-run, energy-cost-optimized facility, as the less expensive alternative to welfare.
I agree that people would probably hibernate as a solution to job loss, which would reduce labor market competition during economic slumps. During hibernation, they would not need housing, food, entertainment, or transportation. This would be easiest for single people—though I suppose married couples or entire families and tight-knit social groups might arrange to hibernate simultaneously.
While labor market competition would become less desperate, the actual number of available candidates would go up, as employers would be able to thaw out prospective employees as soon as they acquire openings. The biggest danger would be to people who have obsolete skills or no skills, and also have no interest-bearing assets or passive income to pay their living expenses. They might end up stuck in indefinite stasis in a large government-run, energy-cost-optimized facility, as the less expensive alternative to welfare.
Next year’s hit dystopian thriller, starring Justin Timberlake?
That sounds like a plausible prediction :)