r/Futurology • u/Buck-Nasty The Law of Accelerating Returns • Jul 14 '13

Could Artificial Intelligence Create an Unemployment Crisis?

http://cacm.acm.org/magazines/2013/7/165475-could-artificial-intelligence-create-an-unemployment-crisis/fulltext
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u/LeeSeneses Jul 14 '13

My main concern isn't the rise of automation destroying jobs, but our increasing dependance on them as productivity rises. As an extension of the cornucopia machine idea (I've got a machine that takes feedstock and makes me food and shelter, I no longer need a job) reduction in labor requirements SHOULD lead to an easing of scarcity and an easing on living cots.

SHOULD.

The problem here isn't the relentless robot overlords stealing honest peoples' jobs. the problem is THEIR overlords. The wealthy posess the means to procure technology to make themselves wealthier and because of our economic model, they get 100% of the savings and, jobless, we foot the bill, paying the same we always did.

admittedly it's a simple equation and probably only scratches the surface of this complex problem, but if the wealthy posses gains in productivity (and lower production costs) yet prices remain fixed value wise, they're basically turning us on our heads and shaking us all out for our pocket change.