by Michael Snyder, Economic Collapse Blog:
What are human workers going to do when super-intelligent robots and computers are better than us at doing everything? That is one of the questions that a new study by Dr. Carl Frey and Dr. Michael Osborne of Oxford University sought to address, and what they concluded was that 47 percent of all U.S. jobs could be automated within the next 20 years. Considering the fact that the percentage of the U.S. population that is employed is already far lower than it was a decade ago, it is frightening to think that tens of millions more jobs could disappear due to technological advances over the next couple of decades. I have written extensively about how we are already losing millions of jobs to super cheap labor on the other side of the globe. What are middle class families going to do as technology also takes away huge numbers of our jobs at an ever increasing pace? We live during a period of history when knowledge is increasing an an exponential rate. In the past, when human workers were displaced by technology it also created new kinds of jobs that the world had never seen before. But what happens when the day arrives when computers and robots can do almost everything more cheaply and more efficiently than humans can?
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