> But this doesn't really bring jobs back, since they'll just be automated. Yeah, that's right. There would certainly be other benefits (and a limited number o

> But this doesn't really bring jobs back, since they'll just be automated. Yeah, that's right. There would certainly be other benefits (and a limited number of jobs created) that are more indirect. The real issue around automation in my opinion is how we as a society manage it. If we stay the course, it is clear that capital owners stand to benefit most (almost entirely I would say). We are already seeing problems with rising inequality due to diverging returns from capital and labour. This is going to exacerbate that hugely. I'm generally in favour of capitalism but I think we are going to need to revisit 'the social contract' that allows capitalism to exist in exchange for a share of the rewards being used to ensure that society's basic needs are met. Just as when it was first negotiated by Bismark, this is going to have to be an initiative of the capital owners if serious unrest is to be avoided. I'm hopeful and think that it is possible. Rich people are not inherently sociopathic. A good example of this sort of compromise in more modern times was the reaction of Kennedy snr when the US faced economic and social unrest. Partly through correspondence with Keynes he was convinced that if himself and his peers didn't take a hit for the good of wider society then they stood a good chance of losing a great deal more. Every so often the social contract needs a reset (e.g. Bismark, the labour movement, the new deal, etc). Automation is going to make this more urgent. The one thing I am sure of is that it will be a political solution and not simply an economic one (e.g. less regulation, more free markets, etc).