Today, we are no longer confined to what nature or natural intelligence must offer. From the steam engine to electricity and digital transformations to artificial intelligence, molecular manufacturing and bioengineering, each new transformative innovation has brought us a new (man-made) way of doing things in ways that nature did not provide for.
As new ways of manufacturing and production are emerging, they are taking away an ever-increasing number of tasks and roles previously performed by a human labor force. Furthermore, the automation, self-improvement, self-replication and distributed nature of the manufacturing processes are producing products and goods at a minimal cost. As a result, each of these existing and emerging technologies, individually and collectively, will likely one day eliminate the need for human labor for production of goods and services—shaking the very fundamentals of economics as we know today.
Continue reading… “The end of work: The consequences of an economic singularity”
