47% of jobs to disappear in next 25 years
Much as Trump beats his chest, he can’t bring back jobs that are obsolete.
Click here for reuse options!The Trump campaign ran on bringing jobs back to American shores, although mechanization has been the biggest reason for manufacturing jobs’ disappearance. Similar losses have led to populist movements in several other countries. But instead of a pro-job growth future, economists across the board predict further losses as AI, robotics, and other technologies continue to be ushered in. What is up for debate is how quickly this is likely to occur.
Now, an expert at the Wharton School of Business at the University of Pennsylvania is ringing the alarm bells. According to Art Bilger, venture capitalist and board member at the business school, all the developed nations on earth will see job loss rates of up to 47% within the next 25 years, a statistic from a recent Oxford University study. “No government is prepared,” The Economist reports. These include blue and white collar jobs. So far, the loss has been restricted to the blue collar variety, particularly in manufacturing.
Copyright 2016 Liberaland
82 responses to 47% of jobs to disappear in next 25 years
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robert December 27th, 2016 at 09:34
I’m waiting for Trump to come up empty on NAFTA and I also think a 35% tax on imports violates contracts within NAFTA so that’s bullsh*t as well
But there again we are talking about trump and the gop
Suzanne McFly December 27th, 2016 at 11:08
I can’t wait for him to bring back all those jobs in the coal mines, how brilliant is that?…../s
The Original Just Me December 27th, 2016 at 12:15
He will eliminate the mine carts and hire more men to do a jail gang pass along to get the coal out of the mines. :+)
Suzanne McFly December 27th, 2016 at 18:51
Then make sure they are denied insurance because treatment of black lung can be expensive.
whatthe46 December 28th, 2016 at 07:54
and those very asses, the coal miners that voted for him are now begging him not to get rid of Obamacare because they have black lung and rely on ACA. if they get rid of it, they will no longer be able to not only afford HC, but, even if they could, they would not be eligible because their illness is pre-existing. i’ve never seen a group of people so stupid in all my life that would intentionally, sabotage themselves on purpose and then freak out when the end game was completely obvious. and i’ve said to them, when i see them crying about that, who gives a damn, you get exactly what you deserve.
robert December 27th, 2016 at 13:20
After the first mine explosion it will be our fault for not doing enough. Being trapped miles under ground can never happen again or can it ?
Suzanne McFly December 27th, 2016 at 18:55
I am sure rumps Department of Labor Secretary will have the safety of workers on the top of their agenda………/s
Obewon December 27th, 2016 at 09:53
65 percent of the jobs our elementary school students will be working in haven’t been yet. Same as it ever was! http://www.stemjobs.com/future-stem-careers/
basedonfact December 27th, 2016 at 11:12
No, not same as it ever was. The new jobs are not replacing the old jobs at the same rate. One new job replaces 10 old ones. One farmer can produce as much food as 30 farmers could 20 years ago. the other 29 have to find new jobs. When self driving vehicles are perfected (soon) 3.5 million truck drivers will have no jobs and no skills that transfer to new ones. Ever more efficient computers means that I can now run thousands of servers in one rack and businesses can run with half the IT staff they had 10 years ago. A script I wrote where I work took a process that used to require a person 10-15 minutes per server to do and instead runs automatically on the over 15,000 servers in our datacenter automatically and produces a report. As a result metrics that we collected once a month and took 12 people to do is done nightly automatically. If I do my job well, work gets more efficient and usually that means people lose jobs. The simple fact is that most new tech jobs are the same. The goal of technology is automation and process improvement both of which mean less jobs
mea_mark December 27th, 2016 at 11:30
And pretty much the only way to deal with the problem that comes along with that is a basic income for all. Part-time and temporary jobs will always be around but they won’t pay enough. The work we do for money in the future needs to be for discretionary spending.
Robert M. Snyder December 27th, 2016 at 12:11
Your logic makes sense, from an economic standpoint. But I think that more than a few psychologists would be concerned about how people will find meaning and purpose in their lives. In theory, people will be free to devote their talents to things like caring for the elderly and cleaning up polluted streams. But in practice, I fear that a guaranteed income will lead to a lot of people binge-watching TV seven days per week. Humans are mammals, and most mammals only expend as much energy as is required to find food and shelter. When a cow, horse, dog, or cat lies around most of the time, we don’t call it laziness. We call it energy efficiency. Mammals are biologically programmed to conserve energy because throughout the millennia, calories were scarce and those that expended more energy than necessary were at a survival disadvantage. We are the descendants of humans who conserved energy by doing only what was necessary. If people’s basic needs are met by government, then many/most will need other incentives to learn and work. It’s going to be a major cultural shift.
mea_mark December 27th, 2016 at 13:27
So far the evidence shows that people use the money to improve their lives. On average it appears that about 4% don’t do much of value with it. If about 96% improve their lives and contribute more to society, I would say that is pretty good.
Robert M. Snyder December 27th, 2016 at 16:19
I’d be interested in reading more about that. Where did you get the information? Thanks.
mea_mark December 27th, 2016 at 18:02
I got it from the guy that put out this … http://www.scottsantens.com/basic-income-faq It is probably in there, if not he may have the info somewhere else. Plenty of good info though if you want to become more knowledgeable about the subject.
Basicincome.org is also a great source of info and I am sure they have it there also. I just don’t know exactly where it is at right now. The info comes from multiple sources and I don’t know if it has been compiled altogether recently or not.
Robert M. Snyder December 29th, 2016 at 07:35
Santens makes reference to Maslow’s hierarchy of needs (the pyramid graph) on this page:
https://medium.com/basic-income/if-we-no-longer-force-people-to-work-to-meet-their-basic-needs-won-t-they-stop-working-3996442b7585#.2i0nmpz56
You can read some brief criticism of Maslow’s hierarchy here:
https://en.wikipedia.org/wiki/Maslow's_hierarchy_of_needs
I have an uncle who does not give a crap about self actualization, creativity, spontaneity, achievement, respect for others, friendship, or family. Ever since my grandmother died, he has lived alone and has depended upon the generosity of his brothers and sisters who provide him with what amounts to a basic income. He has never had any meaningful goals.
The above paragraph would also be an accurate description of my cat, and this underscores my earlier point that evolution has programmed all mammals, including humans, to conserve energy. Most of the things in the top half of Maslow’s hierarchy require significant amounts of energy and a degree of optimism. These things are not entirely natural. They are largely a product of culture. Nature has programmed us to meet our survival needs so that we can live long enough to reproduce and transmit our genes. Societies that do not value self-actualization, creativity, spontaneity, and achievement have no problem reproducing. In fact, they reproduce better, because the birth rate of a society generally goes down as educational attainment goes up.
Fat, dumb, and happy seems to be the natural state of all mammals. It is only through language and culture that humans are motivated to expend energy on things like self-actualization. My cats don’t give a crap about achievement, and neither does my uncle.
I suspect that there are many more people like my uncle who have not learned the cultural values that motivate people to set goals and work to achieve them. My uncle was never forced to get a job and support himself. Consequently he never developed any of the self-esteem that comes from being part of a team and providing goods or services that benefit other people. The biggest loser in this scenario is my uncle.
Maslow’s goals of achievement and self-actualization are indeed worthy. The question is whether people are intrinsically motivated, or whether society needs to play a role in motivating people to be their best selves.
When you look at your own life, and your own achievements, consider Obama’s famous words: “You didn’t build that”.
To what extent are your own achievements and motivation a result of the cultural influence of your parents, family, and teachers who forced you to do things (chores, homework, job) that you didn’t want to do, but which benefitted you in the long run? Nobody ever forced my uncle to do any of those things, so he never learned to appreciate things like creativity, spontaneity, achievement, or self-actualization. Humans are mammals. Without external motivating factors, most people will obey the strong biological instinct to conserve energy.
mea_mark December 29th, 2016 at 11:14
As a society and culture, we will need to motivate ourselves. I think future motivations will come from the people you hang out with. Sure there will groups of losers that don’t want to do anything but I think cultural shame will keep their numbers low. People inherently like to be admired and respected.
There are people like your uncle out there, that is for sure. I’ve known a few but they are not a majority. I think 1 in 20 is probably about right. It might seem like more than that though if you have deal with someone like that a lot.
The Original Just Me December 27th, 2016 at 12:13
You are correct. Just look at the Rail Roads. They used to employ over a million workers. Now they move many times more freight with just a few thousand workers.
StoneyCurtisll December 27th, 2016 at 13:18
And many in yard locomotives are controlled by a person on the ground with a remote control box…
I see them them all the time here in and around Kansas City..
james, lord of devonshire December 27th, 2016 at 20:18
we actually lost our train yard (I think)
james, lord of devonshire December 27th, 2016 at 20:20
there’s actually a Southern Rail strike going on because of this stuff
what I gathered from the mess is that the company wants more automation in the cabin, and they want drivers to open doors themselves.
The Original Just Me December 28th, 2016 at 00:32
Our son was a locomotive engineer for 12 years. He was given one of these remote control engines to run. He proved to the railroad that it violated Federal safety laws in their yard. The engine was towed out of the yard and never returned.
anothertoothpick December 27th, 2016 at 10:37
And don’t forget robot spies like Hymie
https://www.youtube.com/watch?v=odDO4cGh2RQ
StoneyCurtisll December 27th, 2016 at 13:15
Classic~!
The Original Just Me December 27th, 2016 at 12:10
The smarter man gets, the less he needs other men.
TKList December 27th, 2016 at 19:09
47% of obsolete jobs will disappear in the next 25 years and will be replaced with relevant jobs that produce something customers are willing to pay for.
eldwdubu December 28th, 2016 at 07:27
You just don’t get it do you? Technology are replacing people.
whatthe46 December 28th, 2016 at 07:42
and he never will.
TKList December 28th, 2016 at 11:32
Let’s get rid of tractors that took away millions of jobs.
eldwdubu December 28th, 2016 at 11:50
What a stupid analogy, where did you lose your critical thinking ability. I know, you just another dumb conservative that thinks the market is some kind of benevolent god. So when 45% of ALL JOBS are performed by machines and robots with a growing working population then what?
TKList December 28th, 2016 at 12:28
Same question people were asking when tractors were created. Same answer: something else.
eldwdubu December 28th, 2016 at 12:31
Haha, moron.
TKList December 28th, 2016 at 12:38
Easier jobs.
TKList December 28th, 2016 at 12:39
Use your mind not your insults.
eldwdubu December 28th, 2016 at 14:53
I’m sorry, I get frustrated with people who can’t reason because they are locked into a narrow list of talking points. Once you become an ideologue, you stop thinking because you have all the canned answers. Again, I’m sorry for getting so mean with you.
TKList December 28th, 2016 at 15:04
I accept your apology. But I disagree with your analysis.
mea_mark December 28th, 2016 at 14:56
There won’t be that many new jobs created. There has always been less work to do with technological escalation. We have just started working less so it wasn’t as noticeable, except in the pocket book. Less hours worked has equated to less pay and greater poverty and inequality. Problem is, many have reached a tipping point where they can’t make enough to survive on the hours of work they can find. In short, there won’t be customers to buy the new things created, they will all be to poor. The whole house of cards will collapse and revolution will grip the world as the rich are plundered by the poor for survival. Neoliberalism, globalization along with automation are setting us up for a world wide revolution.
TKList December 28th, 2016 at 15:11
Blame big government (excessive regulation, excessive taxation, excessive spending and the Federal Reserve) for hoarding off-shore, outsourcing, corporate inversions and the problems of American workers; not innovation, not technology, not immigration, not globalization, not foreign currency manipulation, not foreign subsidies, not journalists, not the media.
mea_mark December 28th, 2016 at 18:47
Big government isn’t who is extracting the wealth from the economy, it is the top 1%. It is really very simple, the rich don’t spend what they make they just accumulate more and more of it, extracting it from the economy. Greed is killing the economy and our culture. The only real cure is to tax those that don’t spend what they accumulate more heavily and put the money back into the economy.
TKList December 28th, 2016 at 18:49
Utter nonsense.
mea_mark December 28th, 2016 at 18:55
I’m sorry you don’t understand one of the simplest theories of money. It is called currency because it needs to be flowing like a current of water in the economy. When it is taken out of the economy and hidden away it becomes like ice and is no longer flowing like a current. Take the money out of the economy, it slows down, put it back in, it speeds up.
TKList December 28th, 2016 at 18:58
How is it taken out of the economy?
TKList December 28th, 2016 at 18:54
What do you think the wealth do with their money? Hide it in their mattress?
mea_mark December 28th, 2016 at 18:57
If it is sitting in a bank account and not moving, it might as well be.
TKList December 28th, 2016 at 18:59
If it is in a bank it is earning interest by being loaned out.
mea_mark December 28th, 2016 at 19:02
What if it is not being loaned out? What if there are not enough people who want to borrow that money? Guess what, it just sits there. I have seen estimates that up to 21 trillion dollars (world-wide all currencies) are just sitting because people/corporations don’t want to invest it. They feel safer just sitting on it.
TKList December 28th, 2016 at 19:05
The money is still being used by the bank. They do not lock in a vault.
mea_mark December 28th, 2016 at 19:06
No, it isn’t always being used. That is a fallacy.
TKList December 28th, 2016 at 19:09
You have a lot to learn.
TKList December 28th, 2016 at 19:06
If it is earning interest it is doing something. That is the only way interest can be paid.
mea_mark December 28th, 2016 at 19:09
Have you looked at what interest rates have been like recently? There has even been talk of negative interests rates just to keep money secure.
TKList December 28th, 2016 at 19:12
Blame the Federal Reserve.
mea_mark December 28th, 2016 at 19:19
For what? Trying to stimulate the economy. The lower the interest rates, the greater the chance there is that the bank will be able to loan your money out when it comes in. If they can’t loan it out because rates are too high it just sits there because no one wants to borrow it. It is simple market forces at work. Rates are low now because the wealthy and corporations aren’t spending, they are hoarding funds, depressing the economy. The only way they can attempt to increase spending is to lower rates. Unfortunately they can’t go below zero, so you hit a liquidity trap. You can’t further stimulate the economy that way.
TKList December 28th, 2016 at 19:27
It does not work, it is slapping you in the face and you still don’t get it. Abolish the Federal Reserve.
mea_mark December 28th, 2016 at 19:53
It’s not working because the rich are taking money out of the economy and not spending it. The banks can’t create enough more money through fractional banking and lending because there aren’t enough borrowers. Tax/borrow and spend is the only way, with our current system, to put the money back into the economy when there aren’t enough borrowers. The government has to make up the shortfall of borrowers by being the borrower of last resort or taxing and spending.
TKList December 28th, 2016 at 20:09
How are the taking money out of the economy?
TKList December 28th, 2016 at 20:11
If the government would stop borrowing and spending (sucking up the available capital) then people and business could have access to it.
mea_mark December 29th, 2016 at 11:19
They (businesses and the rich) already have access to it and they are doing very little. The capital is there it just isn’t available to the poor because the rich are hoarding it. You keep trying to blame the government for something the private sector is doing. The very foundation of your position is near worthless. Put the blame where it belongs, with the people and corporations that hoarding the capital, not the government.
TKList December 29th, 2016 at 12:15
Blame big government (excessive regulation, excessive taxation, excessive spending and the Federal Reserve) for hoarding off-shore, outsourcing, corporate inversions and the problems of American workers; not innovation, not technology, not immigration, not globalization, not foreign currency manipulation, not foreign subsidies, not journalists, not the media.
mea_mark December 29th, 2016 at 12:42
I acknowledge that tax laws that have allowed corporate inversions and encouraging outsourcing is a real problem. We need to address those issues badly.
As for the Fed, they definitely have some problems. Their problems come from who is on the board, not the Fed itself. An interesting article about what the Fed is doing that is bad that I agree with is here … http://www.counterpunch.org/2016/12/29/the-reason-the-fed-is-raising-rates-and-why-it-wont-work/ The Fed needs reform very badly. They are acting like lackeys of the corporations and the big banks. That has to end.
” … excessive regulation, excessive taxation, excessive spending … ” — That is an opinion and I don’t think that is happening. The homework I have done indicates otherwise.
TKList December 28th, 2016 at 20:12
Keynesian nonsense. Ask Zimbabwe and Venezuela how well that formula works.
Obewon December 28th, 2016 at 20:44
Ask USA’s U.S. Record $19 T current dollar GDP Q3-2016 +4.4% APR! Global GDP is roughly $80 T+. China is in deep recession, exports down -9%’per China’s admission.’
USA 320 M = 5% global population. China $7 T GDP is 1.4 B people. Putin’s Russian $2 T GDP cratered to a measly $1 T GDP.
TKList December 28th, 2016 at 19:30
Three pillars of sand our economic system is built on:
1.Federal Reserve Bank
2.Fiat Currency
3.Fractional Reserve Banking
The Federal Reserve tries to regulate the economy. Their mandates are maximum employment, stable prices, and moderate long-term interest rates.
The Federal Reserve creates money and or makes money inexpensive by manipulating interest rates lower. Rarely manipulating rates higher. This is inflation. Prices go up and real wages go down.
The Federal Reserve creates bubbles and crashes by pushing interest rates too low or too high for too short or too long of time.
Who regulates the regulators at the Federal Reserve to keep the people safe from it and its mistakes? The only real regulator possible is the free market.
With the Federal Reserve in place the market becomes the judge of the Federal Reserve decisions, rather than the regulator.
The Federal Reserve in essence aids debtors and punishes savers. A depreciating dollar aids debtors and harms savers. An appreciating dollar aids savers and harms debtors.
If you start giving an economy fish (easing Federal Reserve monetary policy, excessive federal government spending; deficit, national debt), the economy starts fishing less and starts dining more. Temporary misallocated (Keynesian stimulated) employment increases and growth of sustainable production employment decreases.
Abolish the Federal Reserve, the FDIC and all bank regulations except one; require full disclosure on full or fractional reserve backing of deposits. Treat gold, silver and cryptocurrencies as legal tender (not as an asset) for tax purposes.
If you are concerned about the growing income inequality gap, if you are against war, against the military–industrial complex, against mega-mergers of companies and against invisible taxation, then you are against the Federal Reserve.
mea_mark December 28th, 2016 at 19:44
The federal reserve needs reform, not abolishment. Bank regulations are necessary since they are the ones that are actually creating the money through fractional banking. Without regulations you would get wild speculation and a crash like what happened in the late 20’s and early 30’s.
We need good governance, not a lack of governance. We need to get the rich bankers off the federal reserve board and put on real people with real problems from the middle class along with educated economists. The fed can do good or do bad depending on the motivations of the board members.
TKList December 28th, 2016 at 19:47
You keep thinking that.
Obewon December 28th, 2016 at 20:06
You and RepubliKlansman Ron Paul should get a room.
TKList December 28th, 2016 at 20:12
You are very close to getting blocked.
Obewon December 28th, 2016 at 20:39
You’re incapable of fact based reality, accuracy or proving anything via an impartial link. We’ll always debunk you. You should be elsewhere, where faux news is believed, not debunked.
Here’s your hero, in a strange guys hotel bedroom, sitting on the strangers bed… https://www.youtube.com/watch?v=F7RnlPQCKBQ
TKList December 28th, 2016 at 18:55
Extracting?
TKList December 28th, 2016 at 18:56
It is not greed that is killing the economy, it is our ridiculous regulations, tax laws and government deficit spending.
mea_mark December 28th, 2016 at 18:59
Deficit spending doesn’t hurt the economy, it stimulates it, especially when the private sector is hoarding money and not spending it.
TKList December 28th, 2016 at 18:59
Utter nonsense.
TKList December 28th, 2016 at 19:00
Big government is owned by the wealthy and paid for by the middle class and poor one way or another. The tax code is manipulated by the wealthy; cost to comply is paid by consumers through higher prices. It increases lobbyists, corrupts politicians and increases difficulty of entry for competition, which causes less employment opportunities for workers and higher prices.
Excessive regulation increases cost for consumers, decreases job opportunities, corrupts politicians, increases lobbyists and increases difficulty of entry for competition. National debt: $154,000 cost per household paid by the consumer not the rich, through higher prices, lower purchasing power or lower standard of living. Federal Reserve: low interest loans for wealthy and connected, by the time it reaches lower rungs, rates higher, prices higher, including CEO pay – increasing the inequality gap.
We have more socialism now than the liberal left’s golden age of the 1950s. We have the FHA, HUD, Freddie Mac and Fannie Mae, Community Reinvestment Act, Social Security, Medicare, Student Loan Programs, Obamacare/ACA, Snap Program, Earned Income Tax Credit, Unemployment Insurance Program and more. So the theory is false and the opposite is true. Socialism hurts the middle class. Big government equals more income inequality, smaller government equals less income inequality.
The national debt keeps increasing because of deals, aka compromises, between Democrats (social programs and entitlements) and Republicans (corporate welfare and defense). The middle class pays the heaviest burden for the debt; as it goes up, it further increases the inequality gap by lowering their standard of living. National Debt: $19 trillion costs or is financed by each household, who is ultimately responsible for that debt. This comes out to $154,000 per household if paid for in one lump sum. Financed for 15 years at 5% interest it would take a monthly payment of $1218. Do not be fooled each household pays this one way or another, not the rich; whether you pay it directly in taxes and fees, higher prices, lower purchasing power or by a lower standard of living than you would otherwise have if the government had not spent that money. That is on top of around $26,000 per household for the yearly federal spending. Which is a another $2166 per month. Total $3400 per month per household. The question is: Is your household getting its money’s worth?
Politicians promise you a fantasy land, that they can make your life golden by decree, raise your pay, give you free education, free health care, paid retirement, cheap housing, easy credit and protect you from the evils of the greedy businessman. In reality they can do nothing of the sort.
To give you anything they have to take something from you, do not be fooled when they say they will take it from the rich, the rich get it from you (increased prices), in the end it always comes from you. Politicians point at the rich guy as they pick your pocket. They are selling you an illusion that does more harm than good, because in the process they disrupt the free flow and balance of the market causing unintended consequences.
Politicians that promise to fix your life by taxing the greedy rich to cover the cost are really the sleaziest of middlemen that are selling you pixie dust while they take their cut, which is power.
mea_mark December 28th, 2016 at 19:05
The politicians need to quit promising to tax the very wealthy and just do it. If they don’t, we should not elect them back in.
TKList December 28th, 2016 at 19:10
Wrong answer.
Obewon December 28th, 2016 at 20:14
64% of M/Billionaires want the (R) Buffett Rule taxing $1 M annual net income at 31%. Just 36% of M/Billionaires are as ignorantly greedy as trump’s Oil & Coal Koch bros buffoons. http://blogs.wsj.com/wealth/2011/10/27/most-millionaires-support-warren-buffetts-tax-on-the-rich/
Obewon December 28th, 2016 at 20:30
No such thing as your claim, or “National debt: “-LMAO! The 14th A ‘public debt’ debunked your faux news BS before.
12/27/2016 “Debt Held by the Public” $14.4 T
“Intragovernmental Holdings” $5.6 T Surplussed SS & Medicare trust funds. https://www.treasurydirect.gov/govt/resources/faq/faq_publicdebt.htm#DebtOwner
Obewon December 28th, 2016 at 20:19
Keynesian economic Stimulus reversed every Great Depression, Bush Jr’s 12/07 Great Recession and every recession.
Go to school! Trade in your debunked BS for economic literacy.
Obewon December 28th, 2016 at 20:22
Facts debunk your silly psychosis: GWB’s 135,000 Private jobs created per YEAR (1.08 M Private jobs 8 year total) is the worst on jobs in US history! Bush On Jobs: The Worst Track Record On Record-WSJ Jan 9, 2009. Second worst? Bush Sr’s 2.5 M four year total.
As of 2016, 15 M+ Private Obama Jobs created, ‘2/3 via the Dems $100 B/yr five year private Jobs Stimulus’-CBO. Vs Q4-08 $12.7 T GDP shrinking -9% APR losing 800,000 jobs per month! 1/3 of the Dems stimulus delivered ‘the largest middle-class tax cuts in U.S. History!’ Reproving repubs just aren’t credible.
2016 3rd Quarter U.S. record $18.65 T current dollar GDP growing +4.4% APR = +$6 T BHO44 GDP!
BLS March 2014-> March 2014 Jobs Report – Private Sector Jobs https://www.flickr.com/photos/speakerpelosi/13630053153/in/photostream/
Obewon December 28th, 2016 at 20:55
Kennedy’s Moonshot built the INTERNET adding $2 T+ to U.S. GDP, and delivered today’s privatized SpaceX, Amazon rockets. The first asteroid mined contains more GOLD than ever mined on Earth throughout history!
That’s one of many reasons why GOLD cratered from $1,700/oz to $1,148/oz. today. https://www.bloomberg.com/markets/commodities/futures/metals
convince me December 27th, 2016 at 19:46
well – maybe we don’t need immigration and population growth – maybe we need to let the population naturally decrease to account for the lessoning need for workers.
also – this sounds like an opening for anyone to make money who invests in companies that develop AI, robotics, automation…
and finally – markets will still exist, so anyone with enough money saved won’t have to work – they can sit back and live on the dividends from their shares in robotsexslavedotcom. Sounds nice. Of course – most people will make short sided decisions based on instant gratification and an inability to plan or exert self control – and those people will suffer – and then suddenly everyone who made good decisions will become, “greedy,” and, “evil.”
Leannie December 28th, 2016 at 09:41
Poverty is not simply relegated to those who make bad decisions and wealth is not only reserved for those who make “good” decisions. Maybe making “good” decisions is about how we treat one another rather than how we line our own pockets, but that’s idealism for you, always losing out to greed.
james, lord of devonshire December 27th, 2016 at 20:23
well, of course.
if you’ve got somebody picking metal out of junk for seven pounds an hour, and you build a machine that does it faster, doesn’t have accidents, and doesn’t need money, then it’s going to happen