- Jun 23, 2005
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Technology is making labor so cheap that even those settling for minimum wage seem to have their jobs at risk. Foxconn doesn't even want the dirt cheap labor they have in China so great is the impact technology and automation is having on the economy. Can Capitalism really endure as we continue to follow this path?
Even those that still have a job seem to be made to settle for same or less income as cost of living becomes ever greater. Automation continues to destroy more jobs than it creates. Could a breaking point be simmering that will boil over in the decades to come? What is really scary to me is the prospect of an AI.
It's probably coming this century. And when it arrives, it will have all kinds of bugs and people will laugh at it. But those bugs will get ironed out and I suspect when businesses start installing Engineering skillset software or any number of skillsets on a whim as needed that society is going to have to brace itself for the kind of upheaval no economy in history has ever had to face.
The sticking point comes when an AI drone can maintain other drones and itself. There could well come a point where the entire economy could run with only 20% of the population, or less. Will the other 80% resign themselves to their obsolescence and quietly die in the gutter or would there be mass protests? Possibilities like these are probably a long ways off and yet it seems clear that they're coming.
Can Capitalism endure? Is Socialism inevitable? Or is there a third option we've all overlooked?
Edit: Can't seem to edit the poll. The first option is supposed to say "Capitalism is fine as it is".
Even those that still have a job seem to be made to settle for same or less income as cost of living becomes ever greater. Automation continues to destroy more jobs than it creates. Could a breaking point be simmering that will boil over in the decades to come? What is really scary to me is the prospect of an AI.
It's probably coming this century. And when it arrives, it will have all kinds of bugs and people will laugh at it. But those bugs will get ironed out and I suspect when businesses start installing Engineering skillset software or any number of skillsets on a whim as needed that society is going to have to brace itself for the kind of upheaval no economy in history has ever had to face.
The sticking point comes when an AI drone can maintain other drones and itself. There could well come a point where the entire economy could run with only 20% of the population, or less. Will the other 80% resign themselves to their obsolescence and quietly die in the gutter or would there be mass protests? Possibilities like these are probably a long ways off and yet it seems clear that they're coming.
Can Capitalism endure? Is Socialism inevitable? Or is there a third option we've all overlooked?
Edit: Can't seem to edit the poll. The first option is supposed to say "Capitalism is fine as it is".
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