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Will Automation Lead to Economic Collapse?
Most of the agriculture and industrial jobs are already phased out by machines. Over 70% of jobs and labor is currently to find in the service sector, but also this sector is being phased out and replaced by automation which means decreased purchasing power of the general public. Just take a look at this: http://www.thefiscaltimes.com/Articles/2012/08/20/Will-Robots-Cause-Mass-Unemployment-in-China.aspx#page1
Let's make an example as well. What exactly happens when people get automated by machines? They loose their jobs and need welfare to support themselves until they get a new job, if they ever do. But, where does welfare come from? It comes from tax payers. And do people on welfare pay taxes? They don't. So, what happens when everybody is on welfare due to automation and nobody pays taxes? This example is the reality in Michigan and the government there have been on the brink of shutting down due this exact issue. And we are beginning to see this never-ending spiral go out of control in the rest of the world. The trends are definitely there, but where's the solutions?
Is an economic collapse, in fact, an imminent event and a mathematical certainty, looking at the trends in Michigan and China? And is there a way out of this, looking at it in an economical perspective?
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pat gilbert 100+
This video speaks to this subject:
http://www.ted.com/talks/peter_diamandis_abundance_is_our_future.html
edward long 100+
pat gilbert 100+
edward long 100+
pat gilbert 100+
Why I could even envision where a feller could make his living and retire by doing nothing more than making engineering drawings for other fellers? Of course Auto Cad or Solid Works with FEA could put him out of business? Wait a minute that did not occur.
Of course there will be causalities buggy whip manufacturers and the like. The prognosticators say that most people will not have just one career. Should we do away with Google to keep the librarians gainfully employed should we start a local chapter of the Luddites?
My grandfather will tell the story of how fellers would come out to his fathers ranch and dig a water well with a drill instead of shovels, he said that is what I'm going to do for a living. If Star Trek is any indication everyone on the show seemed to be busy.
In fact I would go so far as to say to do otherwise violates mankind's prime directive.
P.S. This video indicates the senior datum for a successful life in the future and the past.
http://www.ted.com/talks/matt_ridley_when_ideas_have_sex.html
edward long 100+
pat gilbert 100+
The last 100 years is the indicator of the future. Perhaps what you are missing is the specialized jobs that will have to be performed.
edward long 100+
John Smith 30+
Employment was higher 100 years ago: people worked more hours, kids worked, less people spent many years at school, less people were pensioners. Also, are you sure that $1 trillion GDP in 1900 figure accounts for inflation? The world's population is four times as high as it was in 1900.
The truth is that automation has destroyed job opportunities but that's ok: I don't particularly fancy leaving school at age 12 to work 60 hours a week until the day I die.
pat gilbert 100+
edward long 100+
pat gilbert 100+
edward long 100+
pat gilbert 100+
Once again as indicated by the World GDP 100 years ago being 1 trillion today it is 70 trillion and easily 70 times the automation of 1900
No the jobs will not go away.