Originally Posted by server down
Imagine a world where automation does 40% of jobs and will do 90% of jobs. And I dont mean that new jobs will be created in this scenario but that the unemployment rate will be 90%.
Indeed, but we can imagine it - it has been happening for hundreds of years. From the industrial revolution to widespread automation in the 70s and 80s.. yet despite all the thousands of professions wiped out and billions of workers replaced - we have e.g. 6% unemployment
Absolutely more automation and AI is coming and it is going to be a challenge, but potential "90%" unemployment future doomsday scenarios are not something economists are losing sleep over. It's likely to be fairly gradual and I'm sure we'll adapt.
In the highly unlikely event decent UBI does get adopted in my lifetime, I'm certainly quitting work and off to live like a king in some poor paradise with it