[ExI] More Robots - Fewer Boring Jobs

BillK pharos at gmail.com
Tue Nov 9 13:24:24 UTC 2021

Rise of the Robots Speeds Up in Pandemic With U.S. Labor Scarce
Alexandre Tanzi  6 Nov 2021


Labor shortages and rising wages are pushing U.S. business to invest
in automation. A recent Federal Reserve survey of chief financial
officers found that at firms with difficulty hiring, one-third are
implementing or exploring automation to replace workers.

Some economists have warned that automation could make America’s
income and wealth gaps worse.

“If it continues, labor demand will grow slowly, inequality will
increase, and the prospects for many low-education workers will not be
very good,” says Daron Acemoglu, a professor at the Massachusetts
Institute of Technology, who testified Wednesday at a Senate hearing
on the issue.

Corporations exporting jobs to China has kept US wages low. Great idea
for the managers. But when unemployed support payments are similar to
low wages people won't bother working boring low-wage jobs. Reducing
support payments won't force people back to boring jobs either.  The
rich managers will face millions of people in rebellions and riots so
the support payments to the masses will have to continue.
It looks like the pandemic has started the age of universal basic income
paying the masses to sit at home and watch TV.


More information about the extropy-chat mailing list