Why a guaranteed minimum income won’t protect us from the automation wave

Summary: My post A guaranteed minimum income: faux solution for the new industrial revolution sparked discussions in the comments and on Twitter, with some powerful insights and incisive questions. Here are answers to a few of the questions raised. A guaranteed minimum income (GMI) is a powerful tool for fighting poverty. As such it has … Continue reading Why a guaranteed minimum income won’t protect us from the automation wave

Matthew Yglesias tells us not to worry about the new industrial revolution

Summary: The new industrial revolution has begun, yet we have not yet begun to prepare. An article by Matthew Yglesias, neo-lib story-teller extraordinaire, shows why. He explains that faith-based economics assures us all will work out for the best.   Last week I posted Well-meant minimum wage increases will accelerate automation. On the same day … Continue reading Matthew Yglesias tells us not to worry about the new industrial revolution

The coming Great Extinction – of jobs

Summary: News of the coming great extinction has the chattering classes agog with fear. But they're (as usual) looking the wrong way. The rapid evolution of algorithms, software, and robots will make many kinds of jobs as extinct as the Great Auk. This will reshape the world into a wonderland -- or unleash disastrous social … Continue reading The coming Great Extinction – of jobs

50 years of warnings about the new industrial revolution. It’s here. Ignore the naysayers.

Summary:  The new Industrial Revolution is now upon us. We have sufficient warning and, with the experience from the earlier ones, should be able to navigate through it to a prosperous future without massive suffering during the transition. This is the latest in a long series about what might be the major economic event of the … Continue reading 50 years of warnings about the new industrial revolution. It’s here. Ignore the naysayers.

Tech creates a social revolution with unthinkable impacts that we prefer not to see

Summary: We prefer cartoonish visions of the future, utopian and dsytopian. For good reason, since clearer visions range from disturbing to mind-blowing. Sexbots are coming, the next generation of automation. They'll bring a future of the mind-blowing kind, for which we will not prepare because we don't want to see it. “This will blow up … Continue reading Tech creates a social revolution with unthinkable impacts that we prefer not to see