If I'm a horse 100 years ago that lost his job to a car, but I'm well invested in Ford Motor Co. then I call that early retirement not unemployment.
You can, but what about your children? They’d just be unemployable horses.
Just like machines (mechanical muscles) became an extension of our bodies (e.g. an earthmover is an extension of my hand) we will use these algorithms and all this computational power as an extension of our minds.
What happens when robots are so smart that adding a human brain just gets in the way? They'd have to explain to us what they're doing, and then we wouldn't understand. We just wouldn't be worth training. Computers can be "trained" in seconds. It can take humans a life-time to get really good at stuff.
Also, don't forget, human + robot still costs minimum wage. Robot alone is much cheaper.
I believe that CGP Grey is right. Here's how I imagine the world in 200 years:
Robots do >99% of the work. There are a few human jobs left like being an actor or social worker, but very little. I'll talk more about this later.
Governments have been redesigned so that all of the wealth generated from the robots gets redistributed to the citizens of the country. Everything that is necessary is provided to all the people. Robots build everyone a place to live, and give everyone food.
This may sound depressing because people like a challenge. Once Homo Habilis started making tools, though, we were on a path to those tools eventually providing everything we need for us. That path leads us to the world 200 (or possibly less) years from now.
So what would we do? Our lives would be consumed by "fun activities". There would be all kinds of sports, not just the televised ones we see now. There would be mental sports, physical sports, etc. There would also be acting, singing, etc. Yes, robots could probably make a "perfect actor" in CGI, but we as humans would probably be interested in the best "real" actors too, if only to make celebrities out of them. By doing well, we'd gain prestige. We could even tell the robots to give better houses to those that did well, that way we'd end up with a reward for our success.
The main difference, though, is that those who did poorly would still get a house, and still get food, no matter what.
And the few humans who were actually employable (like those who would become social workers), all of those jobs would be at zero pay, and there would still be huge competition to do those jobs... because they'd be one of the only things left that someone could do that matters.