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I believe cost cuts to maximize profit consistently cause an enormous number of people to lose their jobs, yet no one addresses that.
by orestarod 6y ago
I believe cost cuts to maximize profit consistently cause an enormous number of people to lose their jobs, yet no one addresses that.
- zaroth 6y agoI mean this is absolutely true in the sense that 99.9% of the hours that humans used to spend doing things across history have already been automated away. The amount of time we used to spend making a single yard of cloth, or creating 10 pounds of flour is almost unfathomable today. The prevailing economic theory was that we would automate away so much work that leisure time would prevail. Instead our massive increases in output have just driven greater consumption. But the difference made by housecleaning robots isn’t the straw the breaks the camels back. It would take a massive breakthrough in AI to eliminate the majority of knowledge workers at the scale that agriculture and textiles have already been transformed.