Anon Archived Economists May Be Underestimating How Fast the Robots Are Coming (bloomberg.com)
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Archived on: 5/31/2017 10:00:00 AM
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Anon Archived Economists May Be Underestimating How Fast the Robots Are Coming (bloomberg.com)
submitted ago by 1687571?
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[–] 8267421? [S] 0 points 4 points 4 points (+4|-0) ago
If robots and AI are economically advantageous, they will take the jobs, whether it's in the USA, Europe, Asia, or wherever. It's not something we can stop. The race towards efficiency is inevitable, and it will create gross inequalities never seen before. I don't know what the solution will be, but there's no stopping progress.
[–] level_101 0 points 1 point 1 point (+1|-0) ago (edited ago)
I work in automation. Nailed this right on the head.
What is not being understood is that when one person can develop automation to replace 4 people... All of those people will be employed until the automation is complete. After that point. Those positions will never come back again.
It is cheaper to employ someone who can automate your processes at 300% market value WHILE employing the existing workforce.. If you know that you can fire 1/4th of the rest of the workforce in less than a year. (Yeah, its that fast).
Automation is amazing and it is the future (and always has been). It is still going to really F-Up the world economy.
As such. I highly suggest learning how to automate any process that is part of your current work life. It will potentially lead to a future in automation. Better be the ones building the bots, than the ones replaced by them ^^tm.....
[–] 8314599? [S] 0 points 1 point 1 point (+1|-0) ago
We are horses witnessing the birth of the internal combustion engine to replace us.
[–] TotallyNotAFed 1 point 1 point 2 points (+2|-1) ago
Best I can see, universal basic income. Until anybody gives me a better solution, that's what I'm going with.
[–] 8270179? [S] 0 points 1 point 1 point (+1|-0) ago
The problem with universal basic income is where the money will come from. Since all of the profits of the highly automated businesses will be private capital, unless corporate taxes are so high that they would come close to the amount a business would otherwise have paid for labor, then the math just doesn't work.
I'd rather have wages untaxed if they're less than 50 dollars an hour, or salaries less than 100,000.00 a year. Above that, corporate and individual taxes would be something like 50%
[–] [deleted] 0 points 1 point 1 point (+1|-0) ago
[–] TotallyNotAFed 0 points 2 points 2 points (+2|-0) ago
People going rural won't change the lack of jobs available.