Software substitution, whether it's for drivers or waiters or nurses - it's progressing. Technology over time will reduce demand for jobs, particularly at the lower end of skill set.
50 years from now we won't need as much human labour to do what manual workers do, so we should be able to take that extra productivity and put it to better use.
The first rule of any technology used in a business is that automation applied to an efficient operation will magnify the efficiency. The second is that automation applied to an inefficient operation will magnify the inefficiency.
Well, jobs are a great thing. You have to be a bit careful: If you raise the minimum wage, you’re encouraging labor substitution and you’re going to go buy machines and automate things - or cause jobs to appear outside... ...
There is only one condition in which we can imagine managers not needing subordinates, and masters not needing slaves. This condition would be that each (inanimate) instrument could do its own work.
If every tool, when ordered, or even of its own accord, could do the work that befits it... then there would be no need either of apprentices for the master workers or of slaves for the lords.
Software substitution, whether it's for drivers or waiters or nurses ... it's progressing. ... Technology over time will reduce demand for jobs, particularly at the lower end of skill set. ... 20 years from now, labor demand for lots of... ...
