In my last blog, I pondered the complaint of the Millennial generation, i.e. that they have been given a raw economic deal, especially compared to the opportunities to achieve the “American Dream” that my own Boomer generation was given. Instead of seeking some form of anti-youth conspiracy amidst our aging leaders (arguably in their quest to maintain Social Security and Medicare benefits for their peers, including myself), or suspecting an unhealthy sub-conscious mindset grounded in the jealousy and disappointment of an aging generation that once sang “hope I die before I grow old” and chanted “never trust anyone over 30”, I will next focus on what machines and technology are doing to the modern workplace . . . which is quite a lot. I will note that technology has been changing what workers do for over a century now, with mostly good results (e.g. increasing pay tied to growing worker productivity). But the pace of technology change seems to be accelerating and taking us into new territory, such that humans and their social systems are losing the ability to keep up. Are the Millennials the shock troops facing an ultimately contracting need for human skills and abilities in an increasingly automated production economy guided by artificially intelligent (computerized) managerial systems?
The human race overall is getting smarter and better with regard to finding improved techniques to build or create things from nature. The pace of progress seems to keep on accelerating. Entrepreneurs and politicians soon see the possibilities created by these new techniques, and put them to use for their own fortune and power. The biggest impact on the masses results from better and cheaper ways to do things that once required people to do. So, are we facing the nightmare of a world where machines eventually take over most everything, while most people (other than a handful of rich “masters” and a small contingent of their extremely intelligent lackeys who are able to keep up with accelerating machine intelligence) become un-needed, and are thus cast into desperate poverty with lives that are nasty, brutish and short?
This nightmare is not a new one, as many economists like to point out. Technology and change in the workplace has been going on for at least 300 years now in the west. A look at the economic history of America since the Civil War reveals many innovations that » continue reading …
