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re: Is there an industry that will still be profitable in 100 years?
Posted on 11/17/17 at 8:55 am to TigerinATL
Posted on 11/17/17 at 8:55 am to TigerinATL
quote:
The next 20-50 years are going to both be rough and magical. So many of us are going to be displaced by technology in such a short span of time that it may take a generation or 2 to figure out how to work with our robot overlords in the new economy. However, the notion that industries won't be profitable is wrong. The economic output will be higher than ever and innovation will continue faster than ever, it just will no longer require nearly as much human labor as an input. Companies will be wildly profitable and so will owning stock.
What won't be very profitable is being a human. I just don't see how we can avoid some sort of Universal Basic Income and serious wealth redistribution until we figure out where humans fit in the new economy. Like I said, that could actually take a generation or 2 because the answer to how we fit might be by merging with the tech and the older people will be against that just like my parents don't like using an ATM.
Human beings have adapted to numerous global shifts in terms of technology and economic systems. While it may be terrifying I am sure the coming "Age of Automation" will disrupt but not destroy our common existence.
1
Posted on 11/17/17 at 9:19 am to Tigeralum2008
quote:
Human beings have adapted to numerous global shifts in terms of technology and economic systems
I agree that long term people will adapt, I just think this will be more disruptive than anything we've ever experienced and large segments of the population may not get up off the mat after the robots knock them down.
The industrial revolution might come close to being as disruptive, but there wasn't much of a social safety net back then so there was a lot more motivation to figure out a new place in the new economy. When we see 20-40% of the work force become unemployed in the span of a decade I don't think today's population will have the same drive to adapt. They'll be looking for the nanny state to make it better because that's the road we've gone down.
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