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Well, the chart at the top of the article suggests that this time, it really is different. Between 1970 and 2016 we really have seen technological unemployment
by csallen 10y ago
Well, the chart at the top of the article suggests that this time, it really is different. Between 1970 and 2016 we really have seen technological unemployment that has yet to be compensated for.
As the Wiki page you linked to says, stopping unemployment depends on "compensation effects ensur[ing] there is never a long term negative impact on jobs". So, by default, technology will put people out of work, and there's no guarantee that some counterbalancing factor will always materialize. The amount of meaningful work that humans can engage in is certainly not infinite.
Of course, it's not a guarantee that technology will continue to improve either, at least not at a faster rate than the counterbalancing factor. As it happens, it's very hard to predict the future. But it's not unreasonable to try. And right now, it looks very much like tech will keep marching forward, and jobs outside of tech will not.