Honestly, automation isn’t really an issue.
It only gets blamed for job loss because people forget about the other side of the equation: output.
Think of it like this: if productivity improves by 5% a year because of automation, you’ll need 5% fewer workers to make the same output, right?
All things being equal, you’ll lose jobs. This is what people think is happening.
But, if output also increase by the same amount, there’s no net loss of jobs. In other words, if the economy grows at the rate of technology, or faster, automation won’t cause a loss of jobs.
That’s why, in the long run, automation hasn’t caused mass unemployment (and it’s been going on non-stop for the last 1000 years). All that’s changed is our prosperity.
That brings us back to the present: automation is being blamed right now because our output isn’t increasing as fast as our productivity. Why? Offshoring.
When we build our new factories in China or Mexico, they get the output, and the jobs, and the jobs we have are subject to erosion caused by automation.
So it’s not really about automation, it’s about offshoring & economic globalization.
Some nerd will invent the ultimate viagra pill where you never stop cumin’. Case closed. Trade it for Moozlem oil. No more terror. We get the leftover virgins.
Nonsense. As nations or people become more affluent and wealthier, they have smaller families. Eventually, population will drop. Consider this; there are more people now than ever and waaaaay more mechanical means to do things than ever, yet unemployment isn’t out of control because of that.
Other than certain economic crisis that can affect employment, regulations is a biggies along with minimum wage requirements, mandatory bennies and payroll taxes and insurances. machines are cheaper.
However, it now appears that technology is capable of replacing people ... permanently.
What is happening now is not your grandpa's industrial revolution.
There is more and more talk of a UBI: Universal Basic Income that will be doled out to one and all so that no one needs to work in order to survive.
Those who choose to work (and can find a job to do) will be free to do so in order to make more money for a better lifestyle.
But an ever-increasing section of the population may be destined to become videogamers, vloggers, and vagabonds.