Technological Unemployment

There is a great graph-filled post over at Slate Star Codex called Technological Unemployment – much more than you wanted to know. After analysing a lot of data from the US economy, the author arrives at some tentative conclusions: The main point seems to be that the evidence for large-scale technological unemployment is mixed. There is evidence of technological underemployment however. There are signs that people are now struggling to adjust. The final paragraph is:

 “This is a very depressing conclusion. If technology didn’t cause problems, that would be great. If technology made lots of people unemployed, that would be hard to miss, and the government might eventually be willing to subsidize something like a universal basic income. But we won’t get that. We’ll just get people being pushed into worse and worse jobs, in a way that does not inspire widespread sympathy or collective action. The prospect of educational, social, or political intervention remains murky.”

Dude, you broke the future!

There is a great post over at Charlie Stross’ Blog that gives the text of his keynote at the 34th Chaos Communication Congress in Leipzig, December 2017. He makes some interesting points about old, slow AI – i.e. corporations, and compares them to cannibalistic organisms that shed people like cells. He talks about the ways the standard limiter of regulation are failing (regulatory capture and regulatory lag). He ends with a fairly negative assessment of where we are heading. It’s a thought-provoking talk, and well worth reading / watching.

Continue reading “Dude, you broke the future!”

Surviving Post-Scarcity

I’ve been reading the “Beyond Scarcity” series on FTAlphaville recently, and it’s made some very interesting points. The posts argue that the current economic environment is deflationary with regard to goods. I think that is true, and one of the reasons is because of technology. Firstly technology is constantly making everything more efficient and because of global competition this is both reducing the production costs and making goods cheaper. Secondly technology is causing structural unemployment, which means less people have money to spend and there is less money flowing around the economy. Other factors causing deflation are the tight monetary conditions, the aging population, and potentially the effects of quantitative easing.

Continue reading “Surviving Post-Scarcity”

Rewiring the Brain

There is an absolutely awesome bit of Neal Stephenson’s book Reamde, that goes like this: The brain “was sort of like the electrical system of Mogadishu. A whole lot was going on in Mogadishu that required copper wire for conveyance of power and information, but there was only so much copper to go around, and so what wasn’t being actively used tended to get pulled down by militias and taken crosstown to beef up some power-hungry warlord’s private, improvised power network. As with copper in Mogadishu, so with neurons in the brain. The brains of people who did unbelievably boring shit for a living showed dark patches in the zones responsible for job-related processes, since all those almost-never-exercised neurons got pulled down and trucked somewhere else and used to beef up the circuits used to keep track of NCAA tournament brackets and celebrity makeovers.”

Continue reading “Rewiring the Brain”

Race Against The Machine

I just finished reading the Kindle book Race Against The Machine, a book I thoroughly recommend. This was the driver of the NPR article I blogged about recently.
The book is mostly oriented towards the US, although the issues they discuss seem to be prevalent across all major economies. The authors make the case that technological improvements are severely impacting every job market except those for highly-skilled individuals.

Continue reading “Race Against The Machine”