I've spent some time over the past week in analysis of the issues involved in the Robotic Age and although I haven't articulated my conclusions in any detailed form yet, and I'm still reading and thinking, I'm now VERY confident that there is NOTHING TO BE CONCERNED ABOUT (about the Robotic Age) for those nations which follow high quality governance and economic policies. (This, of course, rules out a good future for nations like India with socialist policies).
Strong adjustments are at work in the world today. The KEY shift is towards two main industries: IT and creative.
In the rush to blame robots and IT for loss of jobs, people are forgetting that the rich are beginning to pay significant amounts of money for 'soft' expertise which improves their QUALITY of life. This includes personal fitness coaches, personal life coaches, yoga teachers, and spiritual advisers.The arts are also flourishing. More museums, more production of art. More music, more sports.
I believe that FOR THOSE COUNTRIES which follow good governance and competitive policies, there lies an era of SUPER-RICHES ahead.
There will likely be some further increase in inequality but let's not forget that inequality is NEVER an issue. The key issue is human flourishing. And that seems guaranteed – for those nations which keep their economies fit, lean and agile.
A flourishing creative class will take the 'mid-tier' jobs earlier taken by the non-creative boring clerks and managers. Dilbert is dead.
Within each clerk is a singer/ writer/ poet or artist. It is time to wake up your creative inner being. Or you can choose to be a nerd. Both nerds and creative people will earn well.
Those who are neither nerds nor creative will be come SERVANTS of the rich. Nothing wrong with that. By servants I mean the service industry – waiters/ nurses/ aged care workers/ gardeners/hairdressers, etc.
Does the government have to do anything?
I firmly oppose the ideas of socialists like Paul Krugman who are trying to increase socialist policies and further destroy USA in the guise of solving the 'unemployment' problem arising from the Robotic Age. Such people should, instead, ask the young to re-skill themselves – and spend more effort in the creative fields.
Download the preliminary book below:
(About 5 MB since I've got lots of images in this book)
This book is a warning to anyone who wants government bureaucrats and politicians to meddle with the new economy. ANY UNNECESSARY MEDDLING will lead to seriously harmful consequences.
Let the market work out which kinds of jobs it wants to reward.
This short talk by Peter Schiff is an excellent short summary of key issues involved.
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