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ZZ Universe's avatar

Some interesting stats there, Raul.

I hear people complaining about how robots and AI will take over their jobs.

What they don't realize is that it's a good thing the "AI robot workers" are coming. Because soon, much sooner than most believe, half the world will be in diapers. A world of old people who need to be taken for, with no one to take care of them.

We're not making nearly enough kids to do the work without the aforementioned silicon help, and we'll need to increase productivity even further. Not only will there be fewer people, but with longer lifespans, there'll be mostly old people.

I think we'll be hella grateful for our new robot friends. ;)

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Alexander's avatar

Still, its productivity increases on the shoulders of human labour. It will make human labour more substitutable and increase cost pressure on wages. Good for rich retirees, bad for low net worth young professionals who cannot offer capital to buy those robots, only their labour. Hence, if we don't get a massive deflationary asset-bubble popping crash soon, how is this not going to drive inequality even further?

Seems like the robots are also destroying the American dream, the ability to work yourself up from nothing, because it shifts more negotiating power towards capital income away from labour income. Either you're born rich via parents, or you'll never be rich. It's what Yanis Varoufakis calls "Technofeudalism"

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