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Originally Posted by JacktheDumb
1. New industries dont create as much jobs as they destroy anymore. Facebook and Google altogether do have less then 100 000 employees. That is a small number compared to the league they play in. The Fortune 500 are in the process of releasing more employees then they hire since around 20 years. Wags decline in the western worlds since around 30 years.
Wages are in decline because of Chinese, Mexican, etc duplication of capital and slave labor via globalization. Wage stagnation and labor participation decline has precisely zero to do with technology.
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2. Specialization is not a solution. With current advances in AI and machine learning, machines are able to have more knowledge in fields then the experts of those fields. Googles Alpha Go beat the best Go player in the world and IBM´s Watson beat people at Jeopardy. AI can be taught now to do many of those specialized tasks and more.
Much of what lawyers do is moronic and simple. It's going to be a long time before programmers or mathematicians are replaced. Or construction workers or masseurs or psychologists or nannies or tennis coaches, for that matter. And once they are, work is relevant, since robots will be able to do all human tasks.
You could have 50% employment from personal services alone (massages, makeup and beauty, psychologists, interior decorating, holiday retreats, etc). There is an endless demand - human wants max out somewhere around the level of a king, and even then there are still wants.
The idea that jobs are getting destroyed and not being replaced because of technology is a nonsense. If you care about American jobs, refuse to buy anything from China. That's where our jobs are being stolen via them stealing our know-how via horrific cheating at international trade rules (for example, forcing companies to do joint ventures, build factories in China and transfer all their intellectual property to the Chinese government if they want to access the large Chinese consumer market).
But you won't do that because you couldn't really give a **** about employees losing their job. You're just posturing. If you did you would have thought about this a lot more and the real reason why people are losing work.