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But if few humans are earning enough to generate demand for goods and services, how long will this algorithm have my job?
by sevenless 10y ago
But if few humans are earning enough to generate demand for goods and services, how long will this algorithm have my job?
- EGreg 10y agoDemand for human labor is already steadily going down. It was just masked by consumer credit boom, and now by the rise of temp jobs and contractor gigs in economies that will soon be disrupted (eg Uber drivers by self driving cars). To keep them from starvation, you would need to redistribute money to the ones who don't earn it themselves. Either via Unconditional Basic Income or Negative Tax. Because means tested welfare has the result of punishing people for earning money, so they aren't as willing to reinvent themselves and take productive jobs. Same with minimum wage laws. Eventually our society will be so rich that we'll be able to afford it, but how do we transition there gradually? Computers will attract a larger share of the revenue every few years. They'll become "money sinks". So you tax the profits from laing off people, not enough to disincentivize R&D but enough so we don't have a severe demand shock for human labor and contraction of the money supply as we did in the Great Depression.
- deleted 10y ago[deleted]