Re:Without right policies, automation risks shift of income ...
by vkou on Wednesday January 10, 2018 @06:08PM
(#16120004)
Fossil fuels and automation have made us wealthier for the past century and a half. The overall pie has grown, but labour's share of the pie has been shrinking for the past few decades.
It's why in 2018, you can be living paycheck-to-paycheck on minimal wage, but own a flat-screen color TV. Is this a better life then doing the same job for more pay in 1950, where there were no flat-screen color TVs, home appliances were much more expensive, and much less useful? In many respects, yes.
The question is, what will your life be like in 2050? If current trends continue, we expect your share of the productive output of society to go down. Will this be offset by productivity gains (More, cheaper stuff)? Or will limits to growth (Cost of energy, cost of pollution) actually make you worse off?
It's why in 2018, you can be living paycheck-to-paycheck on minimal wage, but own a flat-screen color TV. Is this a better life then doing the same job for more pay in 1950, where there were no flat-screen color TVs, home appliances were much more expensive, and much less useful? In many respects, yes.
The question is, what will your life be like in 2050? If current trends continue, we expect your share of the productive output of society to go down. Will this be offset by productivity gains (More, cheaper stuff)? Or will limits to growth (Cost of energy, cost of pollution) actually make you worse off?