Daily Archives: March 7, 2017

Bits and Pieces – 20170307, Tuesday

Commentary: One of the biggest problems facing us is the loss of jobs due to RAAI. Not only will we not be able to cope with the surplus labour but the double whammy of increased entitlement payouts and decreased revenue from income and sales taxes will lead to collapse in government finances. But there are other social implications as well: When Factory Jobs Vanish, Men Become Less Desirable Partners. This is another tear in our social structure.

Now view this 6-minute video also at the end of the article:

Automation is introduced to cut labour costs by displacing workers or increasing productivity. That is, automation enables an increase in production without hiring more workers. A company will do this to gain a competitive advantage or maintain one. Since competition is the dominant force in most markets, automation will only increase, particularly as its costs continue to drop while labour costs rise. When all humans have been displaced, the process will go on by replacing older robots with newer, more efficient ones. We are entering a future where there will be far fewer jobs, particularly well-paying ones. Simply put, we already have too many people in our societies.

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