In this video I go through a couple different points.
The first is my view on the potential of technology take out a large number of jobs and why that is a viable possibility.
Secondly, I discuss how we have income capital that, at the moment, tends to be tied to our jobs. What will replace this if it goes away? Here is where cryptocurrency could step in.
▶️ 3Speak
Technology taking out a large number of jobs is not just a possibility. I think it is happening a lot now in different industries. I've seen a lot of news of programmers, writers, and artists losing their jobs. This will only escalate. I do hope your notion of cryptocurrency stepping in happens sooner, because a lot more people are going to suffer if it is delayed.
There will indeed be job losses due to new technology but there will be new jobs too. Similar to the advent of computers and internet, there were job losses due to efficiency gains but there were jobs created too like IT developers, programming and even youtubers and influencers. Imo, the rise of AI will be no different from previous effect of tech on jobs.
You are presuming it is an equal replacement. The labor force participation rate in the United States doesnt reflect that.
It's not equal replacement and there may job losses for the short term. But new tech will not necessarily mean a loss of jobs for the long term or else we should have seen a drastic increase in unemployment throughout history when there were new techs replacing jobs.
The data for the last 30+ years disagrees with you.
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What I'm hoping will happen is that the cost of production gets so low and the diminishing returns of centralization get so high that communities take back the means of production for themselves. Like it might be a little more expensive to 3D-print our own stuff or grow our own food locally but it will be worth doing anyway because the price differential isn't a deal breaker. And if the price is a deal breaker hopefully crypto could move in to incentivize it in ways we haven't thought of yet, leaving some of these mega-corporations with their ridiculous infrastructure high and dry. Still trying to figure out of this is an inevitable outcome or a pipe dream.