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March 08, 2017



Just look at the auto industry and there is a good example of this automation

Bud Byrd

When viewed at the macro level, the academic and business elite among us make a compelling case for the long term benefits of AI, technology and automation. Conversely, labor views these changes short term and at the micro level: What does it do for me ...to me? In the past few decades productivity growth has accrued mostly to capital and not to labor. I think labor sees only short term (and negative) consequences and not the long term potential for new and more plentiful opportunities. Labor is more apt to counter with Keynes’ expression: “In the long run we are all dead” when confronted with the intellectual argument for the long term benefits of AI, technology, automation, etc. We are living this social disconnect even as we speak.

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