Posted: Mar 19, 2017 11:56 pm
by Chrisw
Well I'm with (most) of the economists - I don't see why technology should suddenly start causing a net destruction of jobs when it has never done this in the past.

Computer technology has been eliminating jobs since WW2 and at a pretty high rate for the last 40 years. But this has been balanced by the jobs it created either directly or indirectly through the increased wealth and hence spending power that automation creates.

I remember very similar debates in the 1970s, so many people were convinced that we were on the brink of a jobless future thanks to the microprocessor. If they were right it's taken a long time coming.

It's also worth bearing in mind that computer power has barely been advancing in the last decade. The recent boom in machine learning AI has been driven by huge data storage, pervasive networking and concentration of computer power in giant server farms. We aren't getting the sort of regular free increases in actual computing power that we used to get. Moore's Law as a whole will effectively end soon (probably in the next ten years).