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Yes, yes. This time is different than all the other times.
Right. And cars that can drive themselves.Um... yeah... this is the first time we've had machines that can learn.
Nothing new. Remember when there were elevator operators?? Now elevators drive themselves, and we survived.
Unemployment.
You realize that doesn't count people that have given up looking... right?
I see no problem with it going lower. I think 50% would be fine.Labor force participation does. And that's ~61% now. Probably <60% of you remove 'zombie' workers that are being kept on the payroll hoping COVID goes away. Meaning ~40% of people don't receive an income from working. How high does it need get?
We have plenty of issues and problems to deal with - no need to invent more.
Labor participation rate is higher now than in the 1950s and 1960s.
I see no problem with it going lower. I think 50% would be fine.
Poverty level has been declining for the past decade to an all-time low.Preparing society for the inevitable rise of automation is going to be a lot easier BEFORE we have mile long bread lines.
Poverty level has been declining for the past decade to an all-time low.
Every few years the handwringers scream that machines/progress will replace us all and we will have no jobs. It's been going on for >200 years.
There will be jobs tomorrow. And 200 years from tomorrow. Nearly every job in the US is automated now. In fact, you are probably typing on "the machine that replaced us all".
What jobs do you think are safe from automation? Do you really think that's enough to provide sufficient gainful employment to support increased consumption to match the increase in production capacity? It's only a matter of time. Maybe not even decades. Who would have predicted FSD in 2010? Machine learning improves exponentially.
No, the poverty rate takes into account inflation.Only if you ignore inflation.
The ones you have not thought of yet are safe from current automation capabilities.What jobs do you think are safe from automation?
Nonsense. Productivity is a good thing, not a bad thing.How can you be so blind to the threat automation poses to this cultural fetish of tying income to labor? If the income of ~20% of the population is almost completely independent of labor while ~80% is almost completely dependent on labor. As we can produce more with less labor... that's.... that's a problem for ~80% => a problem for 100%.
No, the poverty rate takes into account inflation.
Nonsense. Productivity is a good thing, not a bad thing.
Think about all the jobs today that were not even imagined 100 years ago.
Add those to the many jobs today that are not automated.
It will be fine. Really.