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The Value Of Labor

I propose the value of labor is falling.

Let me restate that. It has been falling for a while. (Mid 1970's, by my estimate)

But with the advancement of machine learning, and the logarithmic growth of Automated processes, we are on the cusp of a drastic drop in the value of human labor.

And I would like to know what you think about that.

I would start by mentioning that this issue includes value reduction by "Dilution". That's to say, While your Job might not be directly affected by automation, The fact that other peoples jobs ARE affected, will cause them to "Retrain" for other, safer, careers. And those new employees entering the "Safe from automation" job force, will dilute, and ultimately devalue ALL jobs. While this has been going on for a while, its about to explode.

What should we do about it?

How can we react to it?

Specifically, the real answer I am looking for is, what is/will be the conservative response to the direct issue.

Labor Value The

If we can invent and mass produce cheap robot labor that handles job intelligently, then working for a living may no longer be a concern. It will mean coming up with a new economic system where people get what they need, not by spending money they earned working, but just by virtue of existing. I think it will eventually lead to positive change, but in the interim I do see economic downturns that will arise from people clinging to an outmoded system. People are very resistant to change and are likely to reject an economic system where money is no longer a concern. Many people derive their 'power' in society from the money they have and will fight to keep it that way though many of them did not earn this money through their own hard work.

I am not saying that doing away with money will solve any kind of class differential issues, because something new will take its place to cause disparity between the haves and have-nots. However with more cheap labor and greater availability of services, people will have more leisure time and can either go into another career or ideally just pursue their hobbies and not worry about money. The best way to react to this is to embrace it and try to move forward, not fight it and cause more economic turmoil.