UncleEbenezer wrote:I'll chip in for his lady friend with the special relationship to hold his hand.
That's no way to talk about Nigel Farage.
BJ
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UncleEbenezer wrote:I'll chip in for his lady friend with the special relationship to hold his hand.
The outcome is remorselessly pessimistic – labour is displaced at an endogenously determined rate, is forced into specialising in a shrinking set of tasks, and absolute wages are driven to zero. No steady-state is possible until labour has been entirely driven out the economy by advanced capital i.e. the economy must approach a steady-state where ¯i(t) = 1. Labour is fully immiserated, and technological unemployment follows.
AleisterCrowley wrote:a widening bifurcation of incomes/lifestyles for those with capital/high-skills versus those without
that never ends well....
saechunu wrote:AleisterCrowley wrote:a widening bifurcation of incomes/lifestyles for those with capital/high-skills versus those without
that never ends well....
Capital's share of GDP is currently around an all-time high while labour's share is around an all-time low.
If mean-reverting: the trends in capital's and labour's shares of GDP reverse, broad-based wage inflation, declining profit margins (although profits themselves could still rise if that wage inflation lead to greater revenues). Perhaps bumpy-to-OK markets in the nearer term, but good for society (and markets) longer term.
Else if a new era: no mean-reversion, real-terms wages suppressed or falling, the share of the spoils going to capital remain on a rising trend. Perhaps OK-to-good markets in the nearer term, but eventually for society (and thus markets), "Danger, Will Robinson!".
vrdiver wrote:Eventually (possibly with some quite ugly intermediate scenes) we reach a post-capitalism society where the supply-side is effectively infinite and humans can have pretty much whatever they want.
If that scenario isn’t bleak enough, consider the possibility that mass automation could lead not only to the impoverishment of working people, but to their annihilation. In his book Four Futures, Peter Frase speculates that the economically redundant hordes outside the gates would only be tolerated for so long. After all, they might get restless – and that’s a lot of possible pitchforks. “What happens if the masses are dangerous but are no longer a working class, and hence of no value to the rulers?” Frase writes. “Someone will eventually get the idea that it would be better to get rid of them.” He gives this future an appropriately frightening name: “exterminism”, a world defined by the “genocidal war of the rich against the poor”.
Snorvey wrote:Google's DeepMind AlphaGo artificial intelligence has defeated the world's number one Go player Ke Jie.
AlphaGo secured the victory after winning the second game in a three-part match.
DeepMind founder Demis Hassabis said Ke Jie had played "perfectly" and "pushed AlphaGo right to the limit".
http://www.bbc.co.uk/news/technology-40042581
https://en.wikipedia.org/wiki/Go_(game)
High-level players spend years improving their understanding of strategy, and a novice may play many hundreds of games against opponents before being able to win regularly.
Not much point in doing that anymore is there?
redsturgeon wrote:- What is the point of playing sports and games against an opponent?
Mapfumo wrote:I organised a conference last week and we had numerous experts on AI/machine learning & robotics speaking. The implications of what is on the way are quite hard to fathom out (small robots which roam farmers fields and destroy weeds seem easier than self-driving cars - at what point do they become cheaper than herbicide spraying?)
redsturgeon wrote:I think none of these is made any lesser by the fact that a man made machine can beat you every time.
Snorvey wrote:
For years now, some researchers have been anticipating that robots would take away jobs from humans. In the UK, Deloitte and the University of Oxford predicted that 10 million unskilled jobs could be taken over by robots. University of Oxford researchers Carl Benedikt Frey and Michael Osborne estimated in 2013 that 47 percent of total U.S. jobs could be automated and taken over by computers by 2033.
JMN2 wrote:And I'd like to know where did that ozone problem go.
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