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No, this is the wrong question to ask. First of all, the rate of automation has not so far resulted in the disappearance of new work - we all survived the contr
by astazangasta 11y ago
No, this is the wrong question to ask. First of all, the rate of automation has not so far resulted in the disappearance of new work - we all survived the contraction of agriculture from employing some 50% of the population to less than 3%.
There is plenty of work. An astonishing amount of work is available for people to do that isn't being done, and it's not because people are obsolete. What is lacking is capital directed at hiring people for that work. You can argue about why this is, but the basic reason to me is the general lack of demand because, more or less, the rich have all the money.
Here is Krugman on the subject: http://www.nybooks.com/articles/2015/12/17/robert-reich-challenging-oligarchy/ http://www.nybooks.com/articles/2015/12/17/robert-reich-chal...