What happened to those other 99%? OMG they must be living in slums paycheck to paycheck.
What happened to those other 99%? OMG they must be living in slums paycheck to paycheck.
The onus is on you to explain which entirely new sectors of the economy are suddenly going to spring into existence to provide jobs for people whose skills can't compete with those of ever more capable machines.
Automation is something that's been happening for hundreds of years, and any automation that people could do last year was done already.
I don't understand why there is this feeling that there is a backlog and therefore automation is sneaking up on us to put everybody out of work next week.
Perhaps there is too much handwaving about the "technological singularity".
My point was that at a macro level, automation seems to be a steady process that's gone on for much longer than any of us have been alive. But right now, it seems fashionable to assume a sudden discontinuous increase in the rate of automation is right around the corner. This only makes sense to me if there is a lot of "low hanging fruit" that people have not been automating until now. Which I think is implausible.
Also, instead of a thinking in terms of a "backlog", I feel like the average human only has a roughly fixed amount of ability, while hardware+software is increasing in capability all the time, such that it might become more cost-effective than any human worker for any economically valuable task eventually.
Yes, humans are very flexible, and the same body+mind that can live a hunter-gatherer lifestyle can also live a modern office worker's lifestyle, but we're never going to be able to outrun a car, or beat a specialised chess AI.
There is no law of economics which says that the economy will always create jobs which humans can do better and cheaper than machines, unfortunately.
There's no rule that says jobs will get 'created' at all. It hasn't happened for factory workers the last 10 years.