Linked by Thom Holwerda on Tue 28th Mar 2017 20:46 UTC
In the News

Who is winning the race for jobs between robots and humans? Last year, two leading economists described a future in which humans come out ahead. But now they’ve declared a different winner: the robots.

The industry most affected by automation is manufacturing. For every robot per thousand workers, up to six workers lost their jobs and wages fell by as much as three-fourths of a percent, according to a new paper by the economists, Daron Acemoglu of M.I.T. and Pascual Restrepo of Boston University. It appears to be the first study to quantify large, direct, negative effects of robots.

These effects are only "negative" effects because of the way our society currently works. Nobody is going to stop automation, but automation is going to make our capitalist systems wholly and deeply untenable. Those countries who recognise and adapt to this fact the earliest, will be the ones coming out on top once the dust settles.

Countries that look backwards and thereby artificially stunt their economic growth by investing in wholly outdated and destructive industries... Well. Good luck.

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Comment by p13.
by p13. on Wed 29th Mar 2017 08:06 UTC
p13.
Member since:
2005-07-10

The main reason why people seem to think automation will spell doom for work opportunity is that people still seem to think that manual labor is the be-all end-all occupation for the majority of the population.

I don't think so.
Services are where it's at.

Now it's time to watch governments actually do their jobs and co-ordinate the arrival of AI and high-level automation. It is simply unavoidable.
Now governments around the world get a chance to actually do something useful for their population.
Although, it is pretty much guaranteed that most will fail.

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