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Indeed, productivity growth is actually lower than in the past, so we're actually in a phase of slower automation. I think one thing that doesn't get considered
by Chathamization 6y ago
Indeed, productivity growth is actually lower than in the past, so we're actually in a phase of slower automation. I think one thing that doesn't get considered enough is the viewpoint that we're currently in a post-automation revolution world. We generated a lot of excess capacity and weren't able to funnel it to productive uses, hence the rise of many things we see discussed here like "bullshit jobs," excessive administration, zero-sum industries, parasitic industries getting people to buy things they don't need, etc. My guess is that increases in automation won't eliminate jobs but will just further exacerbate these issues, unless there are some sort of societal changes.
- ameister14 6y agoIt's funny that productivity growth is a sign of slowing automation, when it's not actually about growth in productivity as much as it is about the consolidation of capital in fewer hands and lower continued expenses. The real messed up part is that expenses don't actually have to have gone down - you could have a smaller number of people charging the company a lot more and siphoning off money to do the same work because they don't actually run a company based on efficient production and engineering standards, they run a piggy bank. A lot of those went bankrupt in 2008 and were bailed out by the government. More are on the brink and being bailed out now.