Alas, technology is destroying higher skilled, white collar jobs at a furious pace. At least that is the main thesis of the recent book by MIT business school faculty:
They give three explanations for the current slow job growth: (1) business cycle lack of demand, needing normal Keynsian stimulus, (2) technology running out of steam in improving productivity, and (3) the opposite, technology accelerating and destroying the need for highly profitable businesses to hire more workers. The authors think technology acceleration has been underappreciated for its effects on suppressing job growth.
Totally agree. Once again, I may read too much sci-fi, but I think the end game (as it should be) to technological progress is the elimination of labor, completely. This probably won't happen in my lifetime, but assuming civilization can survive long enough, I believe it is inevitable. I can't even imagine what a society would look like under these conditions..., a post-scarcity economy would be a good starting point, I suppose.
I will definitely put that book on my 'to read' list. Very rarely have I been disappointed by an HN recommendation.
We are physical beings with physical needs. We can't live on thin air, we need a basic input of energy and matter to survive. But our society is organized around private property. When you are born, you own nothing. So far, we've been exchanging labor in exchange or property. Once labor becomes valueless, the vast majority of people end up with no means to acquire property, which is essential for physically sustaining life. Something will have to give up, and I'm not placing my bet for the owner class suddenly having a change of heart and sharing their property with the rest of us. Which leaves the majority of people in a scarcer and scarcer world.
Race Against the Machine: How the Digital Revolution is Accelerating Innovation, Driving Productivity, and Irreversibly Transforming Employment and the Economy http://www.amazon.com/Race-Against-Machine-Accelerating-Prod...
They give three explanations for the current slow job growth: (1) business cycle lack of demand, needing normal Keynsian stimulus, (2) technology running out of steam in improving productivity, and (3) the opposite, technology accelerating and destroying the need for highly profitable businesses to hire more workers. The authors think technology acceleration has been underappreciated for its effects on suppressing job growth.