Jun

12

 The focus on debt and "paying for stuff" is a distraction from the real issue of the future - The coming explosion in productivity growth.

We are on the verge of a massive increase in productivity that will result in (among other things) the replacement of most workers with automated processes and artificial intelligence.

Just consider transportation. We will not need bus drivers, cab drivers, truck drivers, airline pilots, railroad people, etc. For example, "Rolls Royce Envisions Crewless Drone Freight Ships".

The need to "offshore" work to low wage countries will go away because wages are not paid to automated processes and devices with artificial intelligence.

The entire notion of a division of labor economy will change. The identity of "I, worker" will increasingly lose relevance.

Thinking about "paying for stuff" using the old model that needs "new workers" to fund "retirement benefits" might be (close to) reasonable for a few more years, but it will soon be 100% obsolete. It is already extremely short-sighted. Note, by "soon" I mean within my lifetime, not within the next few years.


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