Sunday, October 25, 2020

The End of Economists

Economists have been arguing about whether mechanization and automation will completely displace human work pretty much forever.

The answer? There will always be work. The nature of that work will change - mostly for the good. But there will always be work. If not, we will cease to exist in very short order. 

Humans may need to augment their intelligence, even evolve past ‘human’ to continue, but there will always be work to do. 

But economists being economists have yet to even fathom the main near term impact of automation and AI on humans - the end of money. Easy to imagine machines providing all the necessities of high quality life -  food, shelter, transportation, clothing, etc independently of human supervision. From energy production, to raw material procurement, to processing and refinement, to manufacturing, and distribution, machines are not that far from doing this completely autonomously and thus, for free. What need money then? 

No money, no economy, no economists. Oops.


No comments:

Post a Comment