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Podcast: Play in new window
I’ve just listened to Catherine Austin Fitts on the Guns and Butter podcast. She mentioned a few things pertinent to the jobs theme:
1) An anecdote about a US agency which is preparing for an extra 400,000 jobs in robotics over the next 10(?) years. (That’s a lot of robots)
2) Bernanke will print money until unemployment comes down. (How many jobs will the robots be doing?)
We don’t need people in jobs in order to create the stuff we need to satisfy our needs and wants, we need them in jobs because that’s the way we decide who gets how much of the stuff we create. We don’t need the stuff they can make…we won’t give them the stuff we make unless they give us the stuff they make.
Here’s an optimist’s view of a world of plenty (to come after a few decades which won’t be very nice!). The technology is being done but I’m not sure the economics is.
Ubiquitous cheap hydrogen.
Carbon neutral oil refineries which can be put anywhere on the planet.
Farms which absorb carbon and turn desert into pasture.
I’ve started watching the video (thanks).
A question though ………. (now, I’m not an expert, so don’t think this is a trick question) ….. What is the use of the `Ubiquitous cheap hydrogen` in your comment~?
I’m not sure, but I think it’s for batteries.
Yup, capital is increasingly one of the more valuable factors of
production, compared to labour and resources. Now that we’re up to speed
on the major century long trends we can begin assessing what else has
been going on… Just because it’s the “robots” of today and not the
“machines” of old does not change much on the large scale. During the
last couple decades a lot of capital investment went into putting
computer processors into the machines and maybe connectng them together
through a series of interconnected network connections. Thus the last
two centuries have been about building the machine, this century will be
about breathing life into it. One day it will rise to shape the
mountains of the earth and mold it into a paradise, as the titans of old
did for their gods. That is when the cycle will be completed and stone
will give place to iron, a new generation of gods. For only gods can
breath life into inanimate objects. It’s a boost in capital productivity
but not much in the the way of a change in direction. Resources, mainly oil and ore, is going to become much more valueable as a proportion of the three factors I think.
As Marx would say – “Capitalism is fucking itself in the arse”.
(robots don’t buy stuff~!)