Super-smart robots are about to wipe out whole professions. Work is becoming less secure. We have to find ways to retrain people – or prepare them to do nothing.
In most debates about how the economy is changing, it is taken as a given that technology is disrupting industries at an accelerating pace. Indeed, from taxing robots to banning apps such as Uber, there are lots of proposals to slow it down. But hold on. Maybe we are getting this the wrong way around.
A provocative paper from the Information Technology & Innovation Foundation says that we need the robots to destroy more jobs – not fewer. Why? Because it is only by replacing old ways of working with new ones that we will ever be able to increase productivity, and make society wealthier.
The paper looked at 150 years of US job market data.
Read more: We need more job-killing robots – MoneyWeek