Author: automata

Elon Musk: “There’s a Pretty Good Chance We’ll End Up With Universal Basic Income”

Elon Musk: “There’s a Pretty Good Chance We’ll End Up With Universal Basic Income”

Universal and basic

Elon Musk just joined a number of other financial experts who are suggesting that universal basic income (UBI) may be the solution to the looming problem of unemployment, which stands to arise due to the large-scale automation of jobs as a result of artificial intelligence (AI) .

Although there are a number of ways that the system could work, in short, UBI is a system where the government (or another public entity) gives each citizen a fixed income, regardless of employment status.The idea of UBI has been around for awhile now. President Barack Obama himself even briefly […]

Elon Musk: We Need Universal Income Because Robots Will Steal All The Jobs

Elon Musk: We Need Universal Income Because Robots Will Steal All The Jobs

Image: Getty Spacentrepreneur Elon Musk thinks we’ll eventually need a basic universal income because of "automation."

"People will have time to do other things, more complex things, more interesting things," he told CNBC . "Certainly more leisure time. And then we gotta figure how we integrate with a world and future with a vast AI."

"Ultimately, I think there has to be some improved symbiosis with digital super intelligence," the Tesla CEO said.What will happen if robots steal our jobs? It’s a question that’s been on the minds of both the proletariat and the bourgeoisie since the advent of artificial intelligence. […]

Robots, not trade, behind many factory-job losses

Robots, not trade, behind many factory-job losses

A worker loads spools of thread at the Repreve Bottle Processing Center, part of the Unifi textile company in Yadkinville, North Carolina. WASHINGTON — Donald Trump blames Mexico and China for stealing millions of jobs from the United States.

He might want to bash the robots instead.

Despite the Republican presidential nominee’s charge "we don’t make anything anymore," manufacturing still is flourishing in America.Problem is, factories don’t need as many people as they used to because machines now do so much of the work.America has lost more than 7 million factory jobs since manufacturing employment peaked in 1979. Susan Stacy moves […]

The Skills Delusion

The Skills Delusion

Adair Turner Everybody agrees that better education and improved skills, for as many people as possible, is crucial to increasing productivity and living standards and to tackling rising inequality. But what if everybody is wrong?

Most economists are certain that human capital is as important to productivity growth as physical capital. And to some degree, that’s obviously true. Modern economies would not be possible without widespread literacy and numeracy: many emerging economies are held back by inadequate skills.

But one striking feature of the modern economy is how few skilled people are needed to drive crucial areas of economic activity. Facebook […]

Blame put on robots for job losses

Blame put on robots for job losses

A worker loads spools of thread at the automated Repreve yarn-making plant in Yadkinville, N.C., which is part of the Unifi textile company. Drone carts at the plant now do jobs that people once did. WASHINGTON — Donald Trump blames Mexico and China for stealing millions of jobs from the United States.

He might want to bash the robots instead.

Despite the Republican presidential nominee’s claim that "we don’t make anything anymore," manufacturing is still flourishing in America. Problem is, factories don’t need as many people as they used to because machines now do so much of the work.America has lost […]

“Resisting automation seems both futile and undesirable”

“Resisting automation seems both futile and undesirable”

John Danaher JAXenter: In the abstract of your session , you mention some recently-published books which forecast widespread technological unemployment over the next 50 years. What’s your take on that? Do you agree with the authors?

John Danaher: I am wary of making bold predictions but I think these authors are on the right track. There are going to be profound changes in both the volume and quantity of paid employment over the next 50 years. Indeed, some of these changes are already taking place.

JAXenter: If the threat to paid employment is real, what should our plan […]

Elon Musk: We Need Universal Income Because Robots Will Steal All the Jobs

Elon Musk: We Need Universal Income Because Robots Will Steal All the Jobs

Images: Getty Spacentrepreneur Elon Musk thinks we’ll eventually need a basic universal income because of “automation.”

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“People will have time to do other things, more complex things, more interesting things,” he told CNBC . “Certainly more leisure time. And then we gotta figure how we integrate with a world and future with a vast AI.”“Ultimately, I think there has to be some improved symbiosis with digital super intelligence,” the Tesla CEO said. 0:00 / 0:00 What will happen if robots steal our jobs? It’s a question that’s been on the minds of both the proletariat and the bourgeoisie since the […]

Elon Musk Thinks Universal Income Is Answer To Automation Taking Human Jobs

but menial jobs that generate less value than a living wage but also pay much less than a living wage so the company generates a net profit while taking advantage of someone in a desperate situation, yes those jobs are becoming widespread. 1. But they’re not becoming widespread. Wages are increasing almost everywhere in the world, and jobs are becoming less menial. Compare the terrible jobs that the vast majority had 100 years ago to the jobs they have today. Or the jobs people have in developing countries to the jobs they have in more advanced economies.

This scaremongering being […]

U.S. Manufacturing: Politicians Get it All Wrong

U.S. Manufacturing: Politicians Get it All Wrong

Output is Strong, But Workers Lack Skills for Today’s Jobs

Sharelines Politicians often use the state of manufacturing in the United States as a benchmark for the economy as a whole. And they tend to focus on the supposedly declining number of manufacturing jobs as an indication of economic weakness.

It’s just a small step from there, as we have seen in the current presidential race, to blaming trade and globalization for the current state of affairs.But, as a recent report from the Center for Strategic and International Studies, a Washington think tank, points out, much of this information is […]

Trump or Clinton … half of today’s jobs will be gone in 20 years

Trump or Clinton … half of today’s jobs will be gone in 20 years

The notion that Uber in London is a mosaic of 30,000 small businesses linked by a common ‘platform’ is, to our minds, faintly ridiculous,” said one of the judges on the employment tribunal. So the tribunal ruled that Uber’s 30,000 drivers in London were actually employees, and therefore entitled to be paid the minimum wage, to be given sick pay, even to have paid holidays.

Uber promptly appealed the ruling, because it would wreck its business model in the United Kingdom and, if the example spreads, worldwide. But it was only a temporary victory for workers’ rights, because just as […]