Wednesday, February 12, 2014

Big Question 
Economist Andrew McAfee explains that “science fiction is finally coming true with the rise of automation. This is eliminating the drudgery of physical labor and changing the future of work.”


The main benefits of this type of workforce is it creates abundances and frees people up from unsafe, unfulfilling and unwanted type of work. In other words, it creates nothing short of a new type of society.”

In my opinion he is making a fairly safe prediction but he fails to address the real life changes that national economic systems must make. Wealth distribution has presented political and social tensions even before Adam Smith* and Karl Marx started the discussion.
Question: Can nations adapt to the required new economic model where machines generate the consumer and capital goods but do not provide the money for the consumer to purchase the non labor intensive products?


Please send your answers to paulhunter45177@gmail.com

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