Even Darker Visions of the Future Archives

daniel November 27, 2016 basic income scheme, Communism, confiscatory taxation, Even Darker Visions of the Future, Exterminism, Four Futures: Life After Capitalism, How Robotization can Make Income Inequality Worse, Industrial Revolution in Reverse, Marxist utopia, neo-feudal society Mad Max, Peter Frase, plutocracy, Rentism, Richard B. Freeman, robot machine substitutes for humans, Robotization, technological and economic paradigm shift, The New World Economy, three laws of robo-nomics, Who Owns the Robots Rules the World, Why you should be Scared of Robotization

Why you should be Scared of Robotization

“There is also nothing in economics that guarantees that the humans displaced from jobs by robots will end up with new jobs that pay as much as their former jobs, or pay enough to attain a middle-class lifestyle,” Freeman noted. “The main thing to fear today is not joblessness, but a future in which the earnings of workers are stagnant or falling (as robots take a greater share of high-productivity jobs), and the share of income going to the owners of the machines increases.”