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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: GST who wrote (47797)12/20/2005 3:17:39 PM
From: regli  Read Replies (1) of 110194
 
>Roughly 5% of Americans have any direct contact with manufacturing things, and yet we have 5% unemployment. If anything you are saying came close to making sense then half the US adult population or more would be unemployed. <

I agree with many things you say but have to disagree here. I am totally convinced that the combination of automation and artificial intelligence will lead to a significant increase in productivity and consequently in a significant increase in unemployment.

The difference is that in the 19th century it was muscle that was supplemented, nowadays it is intellectual capacity. Machines are getting smarter at a much faster space than humans (Moore's law) and this increased "intelligence" will IMO result in increasingly higher joblessness. This is a freight train that will not be stopped.
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