bamanlron

Reply to Economic Singularity: The Gods and the Useless in Life, the Universe and Everything LittleTinyFrogs Forums

For all those thinking that this time will be no different that other major technological shifts, let me illustrate why you are probably wrong, why this time more jobs will be lost than created. To produce a good or service you need three basic inputs: 1) resources, 2) energy, and 3) control (aka intelligence). With a few minor exceptions (such as donating blood), humans don't directly provide resources. In ancient times, humans provided nearly 100% of the energy and control. We s

Reply to Economic Singularity: The Gods and the Useless in Life, the Universe and Everything LittleTinyFrogs Forums

I've long been worried about this issue and I while I share the concerns expressed here and in the comments, I have a bit of a different angle to add, one that I've never see discussed, even amongst economists. Our economy is the result of the interaction between two primary markets, the first for goods and services, the second, equally important, the market for labor. A good or service offered for sale has to warrant enough demand to pay for the labor associated with its prod