The Tech Revolution Rides On A Wave Of Lost Jobs

NFIH

Well-Known Member
From the article:

We will in the future need to confront the reality that millions of people will have little to nothing to contribute of any appreciable value to the economy.

Not quite. What these millions of people contribute is their spending. What all the techno-utopians always overlook is the *finance* side of the equation.

Fine, replace everyone with robots. So to whom, exactly, will the owners of all these robot-staffed businesses be selling their goods and services? Remember, all those consumers are unemployed. They have no money.

The article's author even touches on the wider, negative implications of this trend: the destruction of all the ancilliary businesses that existed because of the other employment (such as truck stops existing because of truckers, etc.).

But the problem is already here. The advanced market economies are all growing at markedly below-trend rates (e.g. the US at about 2%/year when the historical post-recessiom average is 4%) despite the most accomodative economic conditions in history such as 0% interest rates.

Our economies literally can't afford to have even more people be unable to buy the goods and services we can produce.

The system is destroying itself at this rate.
 

Santa

Well-Known Member
Bro you guys worry to much. Smh just uber on. You guys will be dead by than.

Probably not. The Storm is coming at an alarming rate. Just look at that past 10 years, and see how much has the world changed, technologically.
 
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