I would not mind learning Polish to understand your awesome videos in your polish channel, please don't stop producing English videos, your the best, and I have learned real economics from you! Thank You. :)
For what? Feeding you comforting lies? Unless your a billionaire capitalist this is straight up propoganda designed to sooth any worries for the upcoming economic collapse. Why do you think all the scientists and tech tycoons warn against this at the beginning and it's only the "economists" afterwards who don't actually understand this happen to be the ones supporting it? Btw an opinion that is not even unanimous among all economists. A lot, if not most agree with Elon and Stephen
@@smileyp4535 "Why do you think all the scientists and tech tycoons warn against this at the beginning and it's only the "economists" afterwards who don't actually understand this happen to be the ones supporting it?" It's called modern ideology. The influence Marxists like you deny and create at the same time. Like it or not, Andrew Yang, Elon Musk, and Stephen Hawking are ideologues plain and simple. Their opinions are just guesses from unqualified laymen without any empirical evidence. His accomplishments as a physicist aside, Stephen Hawkings opinion on technological unemployment is as meaningless as the opinion of a bus driver, at least when compared to an actual economist. "Btw an opinion that is not even unanimous among all economists. A lot, if not most agree with Elon and Stephen" Economics isn't a matter of opinion polls. Though even if it was I'm sure you would just dismiss the opinions you didn't like anyways.
@@smileyp4535 Wow, you are so woke man, come to Argentina, we are the proof that Socialism works, is great, 50% of children are poor, our unemployment grows every month same as our inflation. Talking about how bad capitalism is from a capitalist country must be great.
@@smileyp4535 Dude, you are an example of how dumb a person can be when basic economics is ignored. Please, educate yourself before spreading your shit here.
@@MrZappiola 20% of our children are starving too and that number is growing, the only thing that prevents this stuff is socialization. I'm sorry that your government has gone the leninist rout of state capitalism disguised as socialism. Would you say north Korea is socialist just because they say they are? Libertarian socialism is a lot different than soviet style State-capitalism "socialism" if you can, learn about libertarian socialism or anarcho-communism perhaps your people can revolt again. My prayers are with you
I've been on the fence about economics for a while, looking to learn more, and I'm so glad I've found this channel. PLEASE reach out to Freedomtoons and/or FEE, I'm sure both those guys would loovvve to bring attention to your channel! This is an amazing way to show the viewpoints of very right-leaning people (like myself) in a moral and understandable way :)
For a man who is supposed to be the worlds smartest man, would it really have been so hard to read a few books on basic economics, automation is NOT a threat
If your a billionaire then yeah your right, this isn't the same as before, even if it was there are always riots and mass unemployment. So even if you were right tough times are coming but that's the thing AI isn't the same as machines that I'mprove human efficiency, they make humans obsolete. The only way this WON'T be a disaster and be the "techno utopia" it can be is to move from capitalism to socialism. Socialize automation and ai so we can all benefit instead of some billionaire owning it to exploit the planet
@@smileyp4535 Jobs aren't finite. You are speaking the same shit the Luddites spoke in times past. We have a growing sector of the economy where geeks play video games and jack off for audiences. People never suffer from improved production, no matter who the owner or benefactor is. I will eat a hundred dollars cash if it can ever be proven that automation rendered humans worse.
@@spectermakoto9029 First of all, I didn't say that was the goal. Secondly, you have to prove it's not practical. Finally, if your point was that socialism is somehow the answer to that, you'd have to prove that as well, but you can't, because it's not.
Hawking might've been a great physicist but that's about it. Automation is going to be a huge leap towards the standard of living of each and everyone of us. Remember that the people who run these companies need people to sell their services too. We're going to watch a huge drop in prices since it will become so much cheaper to produce.
Honest question here and please correct me if I'm wrong, won't we be looking at relative same or inflated cost of goods and services depending on Downward pressure on wages with further automation? In addition, in late stage capitalism it always seemed to me what's the point of consumers if u own enough wealth and natural resources? I always thought that was the end game for the richest among us.
@@ashleypello7532 I don't think so. I think the gains in productivity will off set the automation and downwards pressure on wages. Technology has been destroying jobs for hundreds of years people have been arguing about automation and machines, there would be hardly any jobs left. This is of course not true. Bulldozers took the place of men with shovels. Cars put railroad workers out of business. Elevator operators, typists, blacksmiths, and manual telephone operators jobs all vanished over the 20th century. What matters in the end is that we can produce more output with less input. That's what raises the standards of living. I'm not sure what you mean with late stage capitalism since capitalism is not a doctrine with a goal in mind.
The grandfather was a horse keeper, the father was a car mechanic, now the son studies to be a spacial engineer. I think professions go extinct because there no one to be in the position, even the most inefficient method is the best some peoples can get.
The problem when discussing the economic effects of automation is that most assumed that people must sell their labor in order to generate income. But when human labor becomes obsolete, people will find other things to sell in order to make money. With that being said there are still ways in which automation will hasten and create shocks in the economy which can be addressed. In order to deal with automation and make the transition from human to machine labor smoother, 3 things must be done. 1) End intellectual property. This allows everyone to have access to new technology, for them to build machines, have more competition in robotics market, rather than depending on a small technocratic elite who have the patents. 2) Abolish labor laws. This removes the price controls and requirements that make human labor artificially expensive and lessens the incentive to automate to reduce costs. Machines will eventually become cheaper, more efficient, and less riskier than humans, but regulations on human labor will only hasten that deadline. 3) Decentralize infrastructure. Centralized, gov’t infrastructure allows firms to produce goods in a centralized locations and distribute it all over the country at a artificially low cost by externalizing the expense onto the taxpayer. This has put small, local firms out of business and has increased dependence on big firms who have more capital and resources to automate and created too much reliance on trucking, which will be one of the first sectors to be automated. Subsidies for roads, highways, airports, railroads must stop and should be left to municipalities, communities, stakeholders, and/or private builders.
Good video but there is one important point that must be mentioned. Shocks to employment by automation would be much less damaging if the world would function on a sound (thus scarce) money standard. Why? Because you'd get richer through in increased buying power of your savings when automation occurs, thus being of use to everybody indirectly. In the world we live in where bankers control the supply and in that way exploit everybody, people don't get this advantage of automation, instead bankers can exploit them even more (because they'd target inflation anyway). So now people would see their savings diminished next to jobs being "lost". Anyways, the arguments are clearly in favor of automation, economically and ethically even more. But I'm certain this debate wouldn't be so heated when the world functioned on a gold or bitcoin standard.
People who think that automation is a threat for us should write letters by pen instead of communicate with others via messenger or WhatsApp. Also they should keep their food in a basement instead of hiding it in a fridge.
But, what if what was once considered "basic economics" is changing. Just because that's how things use to work doesn't mean it won't change. When you break it down a lot of "complex" tasks are really just a bunch of simple routine tasks an AI could do, it changes things. When you change that one factor of needing humans at all AND it would be cheaper if a machine did it, what then?
Alucian Lucida this is why I say automation may be the end of capitalism. If no one is employed then who will buy goods and services? It’s a either a self defeating endeavor or it’s a bottleneck effect where increases in automation are capped by corresponding layoffs.
At 11:34: "Machine manufacturers will also have to employ labor." NOPE! FANUC has an automated factory that makes automated robots... so, you should check the math - if that machine manufacturer's portion of costs going to labor drops to, say, 15%, for the few, highly trained technicians who visit FANUC's factory once a month, will that $4.65 really help? And, what do those labor sums look like, if entire industries do this simultaneously? ...Fundamentally, automation increases labor's total income, AS LONG AS labor's proportion of costs is LARGE enough for savings to generate a trickle-down of further employment. If labor is 40% cost, the next leg of costs add 40% of 40%, then 40% of that at the next leg, each machine manufacturer still using labor. If labor drops to 10%, that gives 1% at the second leg, the machine manufacturer, and only 0.1% at the third leg, the manufacturer's suppliers and technicians' schools. Labor is LOST when it concurrently drops below a threshold proportion of costs, across industries. Try the math, and tell me different.
Agreed, more research would actually prove this video wrong. I don't really see how they can perpetuate this myth that ai is just another industrial revolution. Hell they even cited Elon musk as someone against this, one of the people pushing this through. Smh videos like these only put people in ignorant danger 😔
I disagree, a good portion of humanity simply does not work well with others, service jobs are soul-numbing with customers often demand too much and often with rude behaviours (believe me, I work there). Furthermore, in the previous industrial evolutions, machines could only replace our muscles, not our brain. In this evolution, machines can also replace our brain. Thus, the number of jobs created will be less than the number of jobs lost, not to mention some people can only do simple tasks, training cannot make them better. We are reaching the limit of humanity here, physically and mentally, some of us WILL be left behind if this goes on. The only way we can compete with machines is by upgrading ourselves, biologically or mechanically. For now, we need a system that can provide for everyone while the machines replacing our jobs, Universal Basic Income is a good proposal for now. Elon Musk and other geniuses are right, you really think they don't know about the economy?
This isn't the same as before, and even if it was riots and mass unemployment will happen regardless before anything gets better. But this isn't the same. The economy is already eating itself and the big shift hasn't even started yet. There's only 1 thing we can do, socialize the economy. You want to change our relationship with work to achieve the potential benefits from automation. That's the way to do it. Move the focus from profit to human well-being. Forget working for wages and move onto working for fulfillment. This way we can all benefit instead of few ultra-billionaires ruling over an unemployed/ubi subsidized modern serf class
@@josh10722 lmao yes that's what we need, less protection for workers and even less accountability for the elites, because that's worked soooooo many times before
@@smileyp4535 "yes that's what we need, less protection for workers and even less accountability for the elites" This is classic socialist circular reasoning. Assume that socialism is the only form of protection for workers then argue that we need socialism to protect workers. What a great way to avoid reality altogether.
"This isn't the same as before, and even if it was riots and mass unemployment will happen regardless before anything gets better." 1.) Rioters are driven by ideology. There were no riots in medieval Europe regardless of the level of inequality or subsistence-level living conditions while protests are common in the richest countries in the 21st century because of Marxist ideology. Ironically the same thing that blinds you to that fact, which is a perfect illustration of why Marxism is an anti-intellectual cult. 2.) Do you have any actual evidence mass unemployment is inevitable? "But this isn't the same. The economy is already eating itself and the big shift hasn't even started yet." Do you have any objective metrics to back that up or is that just your personal impression of the news? "There's only 1 thing we can do, socialize the economy." Been there, done that. "You want to change our relationship with work to achieve the potential benefits from automation. That's the way to do it." Changing our relationship to work is what Capitalism (or what's left of it) has been doing for the past two hundred years. If you doubt this fact, ask yourself how you have the leisure time to even have this conversation in the first place and why you are not breaking your back on unproductive farmland. "Move the focus from profit to human well-being." Profit is a cost of doing business. It is the price on capital and entrepreneurship, adjusted for risk. When you take away profit, you don't get what it pays for (capital accumulation and innovation). "moving the focus away from profit" is just a fancy way of asking for a free lunch. "Forget working for wages and move onto working for fulfillment." "Working for wages" means exercising effort for your own survival and well being. That is an inescapable fact of life, not a "flaw" of Capitalism. "work or starve" are the alternatives given by nature, not Capitalism. You can't socialize your way out of reality.
Socialize the economy, that starts with you then, enter the market place with those intentions and implement it. People respond to that kind of interaction, no need to have some "authority" implement it for you. "Move the focus from profit to human well-being." I agree, what do you think business does, it looks to fix problems for people in their lives. Yes there are products and services that do you harm but it is up to you to not engage in them. Even good inventions have negative consequences, there is no perfect system. "The economy is already eating itself and the big shift hasn't even started yet. " Crony capitalism, implemented by authorities. " "Forget working for wages and move onto working for fulfillment." People vary, what you find fulfilling may not be fulfilling to others, that is a personal journey based on what choices people make and what risks they are willing to take to achieve fulfillment. Entrepreneur's don't work for wages, they provide goods and services and figure out what people want and need, that comes with risk. "This way we can all benefit instead of few ultra-billionaires ruling over an unemployed/ubi subsidized modern serf class " Starts with the education system which does not teach people about money or the market place, it is geared towards creating employee's who take no risk and are never wrong........ Gov't is not the answer and free market will always create wealth inequality because people's skills, talents, passion, will power and discipline vary so greatly. Learning comes from trying and failing. As for billionaires, yes they often rig things for themselves because they have wealth and can influence gov't officials, again crony capitalism. So i am not sure how implementing a "system" through gov't will end differently. Besides i think this well being economy you speak of is already in full display, all these corporations are all about social justice and save the planet initiatives. However if you can do simple math you will see the fallacies behind these initiatives and many of these business models are implemented by our gov'ts. Sorry but high IQ people with money are simply eons ahead of the average voter and politician and will always figure out to use GOV"T POWER to rig markets further for themselves. Let me guess though.....not your system. =)
This automation is undeniably different than controls innovations in the past. Machine learning and robotic manufacturing aim to take away millions of jobs from industries that will not face becoming redundant tasks in and of themselves. Cool, 300 people got a job working for a robotics company and 3 millions lost a job working in accounting. Where are the new jobs at? How do you retrain a 50 year old to be an electronics engineer? There's a few options. Lower the amount of hours in a work week while drastically increasing the hourly pay across all industries, UBI, a combination of UBI and work week hours, and completely rejecting automation. Like, this video surmises that air plane pilots and truck drivers being automated away corresponds to a 1 to 1 ratio of new job creation in software engineering. What a load of shit.
Also missing from this is the exponential component of technological advancement. Comparing AI with the industrial revolution is not correct. Intellectual capital is being replaced at an exponential rate - that means the time window allowing humans to retrain for new skills will grow smaller and smaller.
One more of thousands of clips promoting automation as the panacae that create jobs...do these people study history? do they consider the dramatic improvement in relationship work/income/employee (reduction in working hours and working conditions, no child labour etc) that people underwent under the previous technological revolutions? They just say "in the long term everything will be fine" yeah but in the short term the unemployed masses will revolt unless the ones that benefit from the technology once again improve the relationship work/income/employee
![ลองสุ่มไอโฟน 990 โกงมั้ย? [ โกงมั้ยครับ ep.101 ] | DOM](http://i.ytimg.com/vi/bfsWe0j492k/mqdefault.jpg)
I would not mind learning Polish to understand your awesome videos in your polish channel, please don't stop producing English videos, your the best, and I have learned real economics from you! Thank You. :)
Thank you!
Thank You EconClips.
For what? Feeding you comforting lies? Unless your a billionaire capitalist this is straight up propoganda designed to sooth any worries for the upcoming economic collapse. Why do you think all the scientists and tech tycoons warn against this at the beginning and it's only the "economists" afterwards who don't actually understand this happen to be the ones supporting it? Btw an opinion that is not even unanimous among all economists. A lot, if not most agree with Elon and Stephen
@@smileyp4535 "Why do you think all the scientists and tech tycoons warn against this at the beginning and it's only the "economists" afterwards who don't actually understand this happen to be the ones supporting it?"
It's called modern ideology. The influence Marxists like you deny and create at the same time.
Like it or not, Andrew Yang, Elon Musk, and Stephen Hawking are ideologues plain and simple. Their opinions are just guesses from unqualified laymen without any empirical evidence. His accomplishments as a physicist aside, Stephen Hawkings opinion on technological unemployment is as meaningless as the opinion of a bus driver, at least when compared to an actual economist.
"Btw an opinion that is not even unanimous among all economists. A lot, if not most agree with Elon and Stephen"
Economics isn't a matter of opinion polls. Though even if it was I'm sure you would just dismiss the opinions you didn't like anyways.
@@smileyp4535 Wow, you are so woke man, come to Argentina, we are the proof that Socialism works, is great, 50% of children are poor, our unemployment grows every month same as our inflation.
Talking about how bad capitalism is from a capitalist country must be great.
@@smileyp4535 Dude, you are an example of how dumb a person can be when basic economics is ignored. Please, educate yourself before spreading your shit here.
@@MrZappiola 20% of our children are starving too and that number is growing, the only thing that prevents this stuff is socialization. I'm sorry that your government has gone the leninist rout of state capitalism disguised as socialism. Would you say north Korea is socialist just because they say they are? Libertarian socialism is a lot different than soviet style State-capitalism "socialism" if you can, learn about libertarian socialism or anarcho-communism perhaps your people can revolt again. My prayers are with you
Need to watch this a second time after coffee ☕️
I've been on the fence about economics for a while, looking to learn more, and I'm so glad I've found this channel. PLEASE reach out to Freedomtoons and/or FEE, I'm sure both those guys would loovvve to bring attention to your channel! This is an amazing way to show the viewpoints of very right-leaning people (like myself) in a moral and understandable way :)
Your videos are awesome. Keep it up!
Thanks!
Your channel is underrated and doesn't get nearly enough views
For a man who is supposed to be the worlds smartest man, would it really have been so hard to read a few books on basic economics, automation is NOT a threat
If your a billionaire then yeah your right, this isn't the same as before, even if it was there are always riots and mass unemployment. So even if you were right tough times are coming but that's the thing AI isn't the same as machines that I'mprove human efficiency, they make humans obsolete. The only way this WON'T be a disaster and be the "techno utopia" it can be is to move from capitalism to socialism. Socialize automation and ai so we can all benefit instead of some billionaire owning it to exploit the planet
@@smileyp4535 Jobs aren't finite. You are speaking the same shit the Luddites spoke in times past. We have a growing sector of the economy where geeks play video games and jack off for audiences. People never suffer from improved production, no matter who the owner or benefactor is. I will eat a hundred dollars cash if it can ever be proven that automation rendered humans worse.
@@IWLDELJ Having an economy where income is solely gathered from creative endeavors in not practical
@@spectermakoto9029 First of all, I didn't say that was the goal. Secondly, you have to prove it's not practical. Finally, if your point was that socialism is somehow the answer to that, you'd have to prove that as well, but you can't, because it's not.
@@IWLDELJ go learn deep learning algorithms then come talk to me
automation and reskilling should run parallely side by side
Hawking might've been a great physicist but that's about it. Automation is going to be a huge leap towards the standard of living of each and everyone of us. Remember that the people who run these companies need people to sell their services too. We're going to watch a huge drop in prices since it will become so much cheaper to produce.
Honest question here and please correct me if I'm wrong, won't we be looking at relative same or inflated cost of goods and services depending on Downward pressure on wages with further automation? In addition, in late stage capitalism it always seemed to me what's the point of consumers if u own enough wealth and natural resources? I always thought that was the end game for the richest among us.
@@ashleypello7532 I don't think so. I think the gains in productivity will off set the automation and downwards pressure on wages. Technology has been destroying jobs for hundreds of years people have been arguing about automation and machines, there would be hardly any jobs left. This is of course not true. Bulldozers took the place of men with shovels. Cars put railroad workers out of business. Elevator operators, typists, blacksmiths, and manual telephone operators jobs all vanished over the 20th century. What matters in the end is that we can produce more output with less input. That's what raises the standards of living. I'm not sure what you mean with late stage capitalism since capitalism is not a doctrine with a goal in mind.
An worthy 16 mins
❤ econclips
The grandfather was a horse keeper, the father was a car mechanic, now the son studies to be a spacial engineer. I think professions go extinct because there no one to be in the position, even the most inefficient method is the best some peoples can get.
The problem when discussing the economic effects of automation is that most assumed that people must sell their labor in order to generate income. But when human labor becomes obsolete, people will find other things to sell in order to make money. With that being said there are still ways in which automation will hasten and create shocks in the economy which can be addressed. In order to deal with automation and make the transition from human to machine labor smoother, 3 things must be done.
1) End intellectual property. This allows everyone to have access to new technology, for them to build machines, have more competition in robotics market, rather than depending on a small technocratic elite who have the patents.
2) Abolish labor laws. This removes the price controls and requirements that make human labor artificially expensive and lessens the incentive to automate to reduce costs. Machines will eventually become cheaper, more efficient, and less riskier than humans, but regulations on human labor will only hasten that deadline.
3) Decentralize infrastructure. Centralized, gov’t infrastructure allows firms to produce goods in a centralized locations and distribute it all over the country at a artificially low cost by externalizing the expense onto the taxpayer. This has put small, local firms out of business and has increased dependence on big firms who have more capital and resources to automate and created too much reliance on trucking, which will be one of the first sectors to be automated. Subsidies for roads, highways, airports, railroads must stop and should be left to municipalities, communities, stakeholders, and/or private builders.
Is this channel going to interview Elon Musk or Andrew Yang?
Yang Gang!
My Real Fake Name yang gang
After the industrial revolution in 1800 (work of machines) I think the next big step will be automation.
sounds good
Someone better tell amazon they should worry about that Japanese company nozama
Which software do you use for making these videos.
Survival of the Skilled
Lies, you don't need more employees to match increase. Or you don't need nearly as much.
Good video but there is one important point that must be mentioned. Shocks to employment by automation would be much less damaging if the world would function on a sound (thus scarce) money standard. Why? Because you'd get richer through in increased buying power of your savings when automation occurs, thus being of use to everybody indirectly. In the world we live in where bankers control the supply and in that way exploit everybody, people don't get this advantage of automation, instead bankers can exploit them even more (because they'd target inflation anyway). So now people would see their savings diminished next to jobs being "lost". Anyways, the arguments are clearly in favor of automation, economically and ethically even more. But I'm certain this debate wouldn't be so heated when the world functioned on a gold or bitcoin standard.
How do you make videos? Please please make tutorial.
Hey econclips can you give us an example of what uniquely human skills are thanks (: love your content
Consistency with no employees that quit
People who think that automation is a threat for us should write letters by pen instead of communicate with others via messenger or WhatsApp. Also they should keep their food in a basement instead of hiding it in a fridge.
Chance and threat. We focus less on the threats.
But, what if what was once considered "basic economics" is changing. Just because that's how things use to work doesn't mean it won't change. When you break it down a lot of "complex" tasks are really just a bunch of simple routine tasks an AI could do, it changes things. When you change that one factor of needing humans at all AND it would be cheaper if a machine did it, what then?
Alucian Lucida this is why I say automation may be the end of capitalism. If no one is employed then who will buy goods and services? It’s a either a self defeating endeavor or it’s a bottleneck effect where increases in automation are capped by corresponding layoffs.
Can you make portuguese legends?
At 11:34: "Machine manufacturers will also have to employ labor." NOPE! FANUC has an automated factory that makes automated robots... so, you should check the math - if that machine manufacturer's portion of costs going to labor drops to, say, 15%, for the few, highly trained technicians who visit FANUC's factory once a month, will that $4.65 really help? And, what do those labor sums look like, if entire industries do this simultaneously? ...Fundamentally, automation increases labor's total income, AS LONG AS labor's proportion of costs is LARGE enough for savings to generate a trickle-down of further employment. If labor is 40% cost, the next leg of costs add 40% of 40%, then 40% of that at the next leg, each machine manufacturer still using labor. If labor drops to 10%, that gives 1% at the second leg, the machine manufacturer, and only 0.1% at the third leg, the manufacturer's suppliers and technicians' schools. Labor is LOST when it concurrently drops below a threshold proportion of costs, across industries. Try the math, and tell me different.
its interesting more research is needed..i have second comment nice.😏
Agreed, more research would actually prove this video wrong. I don't really see how they can perpetuate this myth that ai is just another industrial revolution. Hell they even cited Elon musk as someone against this, one of the people pushing this through. Smh videos like these only put people in ignorant danger 😔
@@smileyp4535 Where did we cite Elon as someone against? :O
@@EconClips is that not the implication of 3:20? 🤔
@@smileyp4535 no, it isn't
I disagree, a good portion of humanity simply does not work well with others, service jobs are soul-numbing with customers often demand too much and often with rude behaviours (believe me, I work there). Furthermore, in the previous industrial evolutions, machines could only replace our muscles, not our brain. In this evolution, machines can also replace our brain. Thus, the number of jobs created will be less than the number of jobs lost, not to mention some people can only do simple tasks, training cannot make them better. We are reaching the limit of humanity here, physically and mentally, some of us WILL be left behind if this goes on. The only way we can compete with machines is by upgrading ourselves, biologically or mechanically. For now, we need a system that can provide for everyone while the machines replacing our jobs, Universal Basic Income is a good proposal for now. Elon Musk and other geniuses are right, you really think they don't know about the economy?
This isn't the same as before, and even if it was riots and mass unemployment will happen regardless before anything gets better. But this isn't the same. The economy is already eating itself and the big shift hasn't even started yet.
There's only 1 thing we can do, socialize the economy. You want to change our relationship with work to achieve the potential benefits from automation. That's the way to do it. Move the focus from profit to human well-being. Forget working for wages and move onto working for fulfillment. This way we can all benefit instead of few ultra-billionaires ruling over an unemployed/ubi subsidized modern serf class
@@josh10722 lmao yes that's what we need, less protection for workers and even less accountability for the elites, because that's worked soooooo many times before
@@smileyp4535 "yes that's what we need, less protection for workers and even less accountability for the elites"
This is classic socialist circular reasoning. Assume that socialism is the only form of protection for workers then argue that we need socialism to protect workers. What a great way to avoid reality altogether.
"This isn't the same as before, and even if it was riots and mass unemployment will happen regardless before anything gets better."
1.) Rioters are driven by ideology. There were no riots in medieval Europe regardless of the level of inequality or subsistence-level living conditions while protests are common in the richest countries in the 21st century because of Marxist ideology. Ironically the same thing that blinds you to that fact, which is a perfect illustration of why Marxism is an anti-intellectual cult.
2.) Do you have any actual evidence mass unemployment is inevitable?
"But this isn't the same. The economy is already eating itself and the big shift hasn't even started yet."
Do you have any objective metrics to back that up or is that just your personal impression of the news?
"There's only 1 thing we can do, socialize the economy."
Been there, done that.
"You want to change our relationship with work to achieve the potential benefits from automation. That's the way to do it."
Changing our relationship to work is what Capitalism (or what's left of it) has been doing for the past two hundred years. If you doubt this fact, ask yourself how you have the leisure time to even have this conversation in the first place and why you are not breaking your back on unproductive farmland.
"Move the focus from profit to human well-being."
Profit is a cost of doing business. It is the price on capital and entrepreneurship, adjusted for risk. When you take away profit, you don't get what it pays for (capital accumulation and innovation). "moving the focus away from profit" is just a fancy way of asking for a free lunch.
"Forget working for wages and move onto working for fulfillment."
"Working for wages" means exercising effort for your own survival and well being. That is an inescapable fact of life, not a "flaw" of Capitalism. "work or starve" are the alternatives given by nature, not Capitalism. You can't socialize your way out of reality.
"Socialize the economy." AKA Hayek's fatal conceit. Watch more videos on this channel, learn economics, and write a more informed comment later.
Socialize the economy, that starts with you then, enter the market place with those intentions and implement it. People respond to that kind of interaction, no need to have some "authority" implement it for you.
"Move the focus from profit to human well-being."
I agree, what do you think business does, it looks to fix problems for people in their lives. Yes there are products and services that do you harm but it is up to you to not engage in them. Even good inventions have negative consequences, there is no perfect system.
"The economy is already eating itself and the big shift hasn't even started yet.
"
Crony capitalism, implemented by authorities.
"
"Forget working for wages and move onto working for fulfillment."
People vary, what you find fulfilling may not be fulfilling to others, that is a personal journey based on what choices people make and what risks they are willing to take to achieve fulfillment. Entrepreneur's don't work for wages, they provide goods and services and figure out what people want and need, that comes with risk.
"This way we can all benefit instead of few ultra-billionaires ruling over an unemployed/ubi subsidized modern serf class
"
Starts with the education system which does not teach people about money or the market place, it is geared towards creating employee's who take no risk and are never wrong........ Gov't is not the answer and free market will always create wealth inequality because people's skills, talents, passion, will power and discipline vary so greatly. Learning comes from trying and failing. As for billionaires, yes they often rig things for themselves because they have wealth and can influence gov't officials, again crony capitalism. So i am not sure how implementing a "system" through gov't will end differently.
Besides i think this well being economy you speak of is already in full display, all these corporations are all about social justice and save the planet initiatives. However if you can do simple math you will see the fallacies behind these initiatives and many of these business models are implemented by our gov'ts. Sorry but high IQ people with money are simply eons ahead of the average voter and politician and will always figure out to use GOV"T POWER to rig markets further for themselves.
Let me guess though.....not your system. =)
So video seems like a propaganda add from big corporations that don't want you to know you are already obsolete.
This automation is undeniably different than controls innovations in the past. Machine learning and robotic manufacturing aim to take away millions of jobs from industries that will not face becoming redundant tasks in and of themselves. Cool, 300 people got a job working for a robotics company and 3 millions lost a job working in accounting. Where are the new jobs at? How do you retrain a 50 year old to be an electronics engineer?
There's a few options. Lower the amount of hours in a work week while drastically increasing the hourly pay across all industries, UBI, a combination of UBI and work week hours, and completely rejecting automation.
Like, this video surmises that air plane pilots and truck drivers being automated away corresponds to a 1 to 1 ratio of new job creation in software engineering. What a load of shit.
Also missing from this is the exponential component of technological advancement. Comparing AI with the industrial revolution is not correct. Intellectual capital is being replaced at an exponential rate - that means the time window allowing humans to retrain for new skills will grow smaller and smaller.
I just hate AI automation.
GO YANGANG !
One more of thousands of clips promoting automation as the panacae that create jobs...do these people study history? do they consider the dramatic improvement in relationship work/income/employee (reduction in working hours and working conditions, no child labour etc) that people underwent under the previous technological revolutions?
They just say "in the long term everything will be fine" yeah but in the short term the unemployed masses will revolt unless the ones that benefit from the technology once again improve the relationship work/income/employee
The math you did wasn't practical
Bullshitttttttt !!!!!!
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