Wednesday 10 May 2017

Week 35 Story 70 Robots won't just take our jobs – they'll make the rich even richer

Instead of making it possible to create more wealth with less labor, automation might make it possible to create more wealth without labor.

Robots won't just take our jobs – they'll make the rich even richer



Robots are set to take future jobs in the future and rather than benefiting those already at work it's going to cause them to lose their jobs but help the rich gain more money as they won't need to employe as many people if not anyone at all.

  • The real threat posed by robots isn’t that they will become evil and kill us all, which is what keeps Elon Musk up at night – it’s that they will amplify economic disparities to such an extreme that life will become, quite literally, unlivable for the vast majority. A robot tax may or may not be a useful policy tool for averting this scenario. But it’s a good starting point for an important conversation. Mass automation presents a serious political problem – one that demands a serious political solution.
I think that this would be bad for the economy as it would cause people to have no money and be out of work for a long time. They won't be able to find any jobs which would cause people to struggle.

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