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> AI will lead us to the largest unemployment wave in history. Citation needed. But let's assume you're right. I think the last thing we need to do is hand mo
by clarkmoody 10y ago
> AI will lead us to the largest unemployment wave in history.
Citation needed.
But let's assume you're right. I think the last thing we need to do is hand more power to governments.
For instance, if AI bring massive productivity increases across many sectors, than price pressure will be downward. Anti-market solutions like price floors (to support business) or minimum wages (to support workers), will not allow us to fully enjoy the improved standard of living brought about by falling prices.
Some localities or states will outlaw self-driving cars (as they hurt driver jobs), but that will simply prevent delivery prices from falling in that locality, hurting the many for the benefit of the few.
Imagine if the cost of living dropped to 10% or 1% of what it is today, while at the same time quality and quantity of goods increased. We wouldn't need government to assure some income based on today's cost of living. Instead, a meager amount of savings, a small amount of charity, or a small amount of work could sustain everyone's existence. Propping up current wage levels with UBI would be fighting the natural economic forces driving cost of living down.
- putsteadywere 10y agoSo, AI brings massive productivity, which drops cost of living... and then what happens to the industries whose costs were reduced as part of that? What if the impact of AI reducing costs looks like the impact of on textile industries in countries that receive mountains of donated clothes? "The result of this harmful practice is increased dependency on foreign aid in countries like Kenya and Uganda. Local industry can't compete, so factories close down, taking priceless jobs with them. It's a huge problem." [0] http://www.spiegel.de/international/spiegel/spiegel-interview-with-african-economics-expert-for-god-s-sake-please-stop-the-aid-a-363663.html http://www.spiegel.de/international/spiegel/spiegel-intervie... [1] http://blog.wovin.org/faq http://blog.wovin.org/faq [2] https://techcrunch.com/2013/11/23/lets-kill-the-aid-industry/ https://techcrunch.com/2013/11/23/lets-kill-the-aid-industry...
- AstralStorm 10y agoThe main problem with robotics is the very high barrier of entry to making silicone electronics. This obviously concentrates power in the hands of the very few.
- clarkmoody 10y agoI think you meant the industries' prices instead of costs. Take the hypothetical of costs declining massively on everything: Instead of donating tons of clothing, we donate tons of food, building materials, cars, etc, since they are dirt cheap. Eventually this leads toward the techno-utopia of having all earthly needs provided for by technology for free. So the jobs in Uganda are no longer priceless, they're unnecessary. I don't believe in Utopias, but you get the point.