Saturday, June 23, 2012

The Robots Are Coming: Kiss Your Job Goodby

The robot revolution is starting to bite in areas other than death from the skies. Taiwanese mega-corp Foxxcon reputedly plans to replace a million workers with robots. They are a tiny fraction of those to be replaced in the next decade or two.

In principle, increases in productivity should benefit the public, since they mean the potential for more goods for all, but in the short range, the profits usually all accrue to capital. Only a radical reorganization of society is likely to prevent this from happening with a vengeance this time around. There are not many hints as to how or whether this might happen.