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This overlooks the fact that automation is eating jobs requiring human input *much* faster than new human jobs are being created.
by lpapez 4y ago
This overlooks the fact that automation is eating jobs requiring human input *much* faster than new human jobs are being created.
- bradleyjg 4y agoHow come the number of people employed is going up and not down?
- tchaffee 4y agoAutomation has never eaten jobs. People just do more interesting or more valuable work.
- Negitivefrags 4y agoWe can only wish this is the case. We are about to have a demographic crunch where we will have massive worker shortages. That is inherently inflationary, and we will need automation which is inherently deflationary if we want to keep the lifestyle we have.
- milesvp 4y agoCan you cite a source? Every generation for the last 200 years has felt this way, and I was taught from an econ degree years ago that historic averages turned out to be ~1.2 jobs created for every job lost to automation. Economies also tends to be self balancing which further lends credance to the idea that it’s really hard not have an employed work force. I think the bigger problem isn’t automation, it’s the way we treat capex vs opex in corporate accounting. We’d go a long way to make paying someone more tax beneficial than to go the ludite route. (I also don’t mean to downplay the pain if displacement from automation, it’s a very real problem and a reason I’m a big fan of social safety nets)