February 13, 2016

Not just automation but other economic forces have been reducing labor participation for decades

Rice University computer scientist Moshe Vardi expects that within 30 years, machines will be capable of doing almost any job that a human can. In anticipation, he is asking his colleagues to consider the societal implications. Can the global economy adapt to greater than 50 percent unemployment? Will those out of work be content to live a life of leisure?

"We are approaching a time when machines will be able to outperform humans at almost any task," Vardi said. "I believe that society needs to confront this question before it is upon us: If machines are capable of doing almost any work humans can do, what will humans do?"

Vardi will address the issue in an 8 a.m. Sunday presentation, "Smart Robots and Their Impact on Society," at one of the world's largest and most prestigious scientific meetings—the annual meeting of the American Association for the Advancement of Science in Washington, D.C.

Charles Murray and others have pointed out the decline in labor participation of white men in america.

During the past half-century of economic growth, virtually none of the rewards have gone to the working class. The economists can supply caveats and refinements to that statement, but the bottom line is stark: The real family income of people in the bottom half of the income distribution hasn’t increased since the late 1960s.

During the same half-century, American corporations exported millions of manufacturing jobs, which were among the best-paying working-class jobs. They were and are predominantly men’s jobs. In both 1968 and 2015, 70 per cent of manufacturing jobs were held by males.





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