70
votes
How will non-rich citizens make a living if jobs keep getting replaced by robots and are outsourced?
This is an interesting question a lot of good labour economists have been thinking about for a while. There are a few conflicting theories as to what will happen. You could base a whole career on this ...
- 3,761
46
votes
How will non-rich citizens make a living if jobs keep getting replaced by robots and are outsourced?
Automation has been happening for a couple of hundred years now and right now we're all still working pretty hard. Although a 40-hour working week is standard, many people exceed this, and many ...
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27
votes
How will non-rich citizens make a living if jobs keep getting replaced by robots and are outsourced?
Your question relates to an important research topic on the link between automation and employment.
David Autor works on this issue and the topic "Inequality, Technological Change and Globalization". ...
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23
votes
How will non-rich citizens make a living if jobs keep getting replaced by robots and are outsourced?
Horses were replaced by cars. Clerks were replaced by word-processors and spreadsheets. We have adapted to the technology and changed how we work. Therein lies the answer. Consider if you will a ...
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19
votes
How will non-rich citizens make a living if jobs keep getting replaced by robots and are outsourced?
There are already excellent answers, but I would like to add in a different perspective:
There will be fewer people.
Not just jobs, but actual human beings - if there is less demand for human ...
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15
votes
How will non-rich citizens make a living if jobs keep getting replaced by robots and are outsourced?
How will non-rich citizens make a living if jobs keep getting replaced by robots and are outsourced?
EDIT / UPDATE 5th November 2016:
http://mashable.com/2016/11/05/elon-musk-universal-basic-income/
...
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15
votes
How will non-rich citizens make a living if jobs keep getting replaced by robots and are outsourced?
I'm going to give a less economically rigorous answer, and address your concern about your own situation.
Jobs change. Your skillsets will always need to change. If you are young, it's a certainty ...
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10
votes
How will non-rich citizens make a living if jobs keep getting replaced by robots and are outsourced?
I am surprised none of the posts above discuss the following paper:
Autor, D., and M. Handel. "Putting Tasks to the Test: Human Capital." Job Tasks and Wages" Journal of Labor Economics (2009).
This ...
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8
votes
How will non-rich citizens make a living if jobs keep getting replaced by robots and are outsourced?
The way I see it, there are two possible futures given the increasing state of automation in the world.
Future One: A Basic Income
We decide as a nation, federal state, or world, that human beings ...
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8
votes
Accepted
What keeps minimum wage rates in balance?
How is the minimum wage determined?
Yes and no. It is a political choice, but with economic reasoning. In the end, that's the case for every economic rule, maybe with the exception of monetary rules, ...
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8
votes
Accepted
What were the factors that caused the Philips curve to stop working during the 1970s?
The general way people figured the Phillips curve worked was that a shock in aggregate demand or fiscal stimulus would cause labor demand to increase as government spending generated growth, which ...
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8
votes
How will non-rich citizens make a living if jobs keep getting replaced by robots and are outsourced?
Intentionally unserious answer. Let's just take the individual's possible reactions to "having their job taken over by a machine" and scale them up to the macro level.
Find a job in another field. ...
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8
votes
How does an increase in the price of "non-wage-goods" increase employment?
Wage-goods are goods that a worker with wages might buy, perhaps now more commonly called consumption goods
Non-wage-goods are goods that a rentier receiving profits or interest might buy, including ...
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8
votes
Minimum Wage effects on Adjacent Cities
A very famous study in this direction is Card and Krueger (1994).
They look an increase in the minimum wage in New Jersey in 1992. While New Jersey raised the minimum wage from USD 4.25/h to USD 5.05/...
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7
votes
How will non-rich citizens make a living if jobs keep getting replaced by robots and are outsourced?
In Progress and Poverty, Henry George claims that the advancement of technology eventually leads to increasing the land value and the land rent. This means that people who own land will have a high ...
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6
votes
Accepted
Why does immigration boost the economy? (or does it not...?)
You’re right, the migration of workers boost the economy. It’s a stylized fact. It may have political consequences, though, but it is not the part of the analysis of economics. Let’s consider $A$ the ...
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5
votes
Why are there so many migrants in the modern world?
Are current flows of migration bigger that they were in the past?
We tend to forget history because the numbers involved currently are smaller
relative to world population. For instance, the 8.8 ...
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4
votes
Accepted
Does the Fed use misinformation as a tool for good monetary policy?
This question as is (October 2, 2015, 15:07 Athens time) should be closed and I voted to that effect. I provide an answer in order to show why it should be closed.
As any natural or legal entity, ...
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4
votes
How will non-rich citizens make a living if jobs keep getting replaced by robots and are outsourced?
Once artificial intelligence surpasses human intelligence, it will be up to A.I. to determine how we spend our days. On the one hand this already occurs. When you go online, algorithms are constantly ...
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4
votes
How will non-rich citizens make a living if jobs keep getting replaced by robots and are outsourced?
Keep this in mind. The richest 1% aren't cannibals.
What I mean by this is that the richest 1% have become the richest by getting their product(s) to the populous. If the populous can't afford a ...
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4
votes
How will non-rich citizens make a living if jobs keep getting replaced by robots and are outsourced?
On a lighter note,...... Robots do not eat, drink, buy consumer goods or take their date to the movies. Who is going to buy the goods that the robots produce if all the workforce is out of a job.
Do ...
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4
votes
Accepted
Does immigration help to sustain welfare in rich European countries?
Here is a chart from the OECD, which shows the net fiscal impact of migrants on their recipient country (i.e. by how much to they contribute or withdraw from the welfare state, albeit excluding in-...
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4
votes
Accepted
Why is full employment desired in an economy if competition promotes innovation?
Your question shows quite a lot of misunderstanding about what full employment means so let me first correct this.
Full employment does not mean everyone is employed. Even at full employment there ...
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3
votes
What keeps minimum wage rates in balance?
While business owners are generally united in their stance against minimum wage increases, wage earners do not always prefer a wage increase. Minimum wage puts pressure on the least productive workers ...
- 1,661
3
votes
Do machines reduce labor... or so they redistribute, alter, and globally increase labor?
The only "perpetual motion machine" is life itself.
No it is not. We also convert energy to heat as we go through life. We are certainly not immune to the second law of thermodynamics, we increase ...
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3
votes
Accepted
Would a Job Guarantee impact Cost of Living?
The answer depends on whether the provision of full employment is a public good that corrects for a negative externality (poverty). Suppose it is and we wish to create full employment.
First, we ...
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3
votes
Accepted
Minimum Wage effects on Adjacent Cities
You should look at this county pairing methodology used by Dube, Lester and Reich (2010). http://escholarship.org/uc/item/86w5m90m
The abstract:
We use policy discontinuities at state borders to ...
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3
votes
Accepted
How do I verify Philips curve empirically for recent years?
Simple correlation is not a good approach to evaluate the Phillips curve, because you are mixing many periods together. To get a better grasp of what this relationship might have been in the past, use ...
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3
votes
How is workforce guaranteed in basic income system?
Brian's answer surely hit a major part of the issue - the level of the UBI. Yet, there are other aspects of the problem.
People like to work. There is a huge amount of sociological literature showing ...
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3
votes
Accepted
1929 stock market crash and unemployment rate
One caveat to the author you refer to, Thomas Sowell is a staunchly conservative economist, so most arguments you hear from him will stick to the Econ 101 wisdom that government intervention is ...
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Only top scored, non community-wiki answers of a minimum length are eligible