TED Conversations

Mats Kaarbø

TEDCRED 10+

This conversation is closed. Start a new conversation
or join one »

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?

+4
Share:

Showing single comment thread. View the full conversation.

  • Oct 1 2012: As long as we stay in our current economic system, automation leads to collapse. No jobs or income? Then we can't sustain the "vicious cycle of consumption". If we change our economic system, automation can free us, can end the starvation and wars. We can manage our resources intelligently (a resource based economy), and get rid of all the occupations and careers which are no longer relevant. We believe that our current system is "real", and has to continue. But it's just a fictional money game that has run its course. Watch "Money In The Future" -- http://www.youtube.com/watch?v=5NAxSYF1SAk
    • Oct 1 2012: interesting video. I thought I was the only guy thinking that the world could / should progress towards this kind of world.
      I do disagree with the later parts but it's a nice conceptual video. I don't want to believe that the monitairy system is evil (like the video somewhat shows).
      • thumb
        Oct 1 2012: ... it NOToptional - the future won't exist for most people (ie the rest die) unless we follow this path - no other conceivable options, to understand why see the 'story' (always an interesting perspective looking back from the future).

        Capitalism – Level 2 history notes Nov 25th 2199

        http://www.commonsensethinking.co.uk/philos.html

        cheers JP

Showing single comment thread. View the full conversation.