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The Rise Of The Robot Economy

A New Epoch of Social Revolution

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About the Rise of the Robot Economy

Baxter at Work: Photo courtesy of Rethink Robotics

Baxter at Work: Photo courtesy of Rethink Robotics

 

 

Capitalism has proven itself to be extremely resilient. There have been many theories predicting its imminent demise yet through one crises after another it thrives. Creative destruction destroys old jobs and old ways of doing business but new ones arise in their place. The autoworker replaces the buggy-maker, new technologies create new opportunities. All the while the capitalist juggernaut moves unabated from strength to strength.

Why should we expect the Rise of the Robots to change this?

This section of the website addresses this question by presenting evidence of the revolutionary nature of these technologies. It focuses on how automation and digitization alter the existing relations of production and why this will alter the relations of all of society.

It is not advanced technology, per se, which disrupts society. Only those facets of it which revolutionize the social structure and transform the relations of production are  efficacious.  A cheap, general purpose robot will affect the labor market in a way that a cure for cancer (as marvelous as that might be) will not. This destabilization of society generates the unrest which calls for new political solutions.

The rise of the robots will not be business as usual. We have not been here before. This is an epoch of social change. We are revolutionizing the socio-economic foundation of our society. A new social consciousness will emerge.

This section of the website explains why.

 

 

 

Something To Think About:

At a certain stage of their development, the material productive forces of society come in conflict with the existing relations of production....From forms of development of the productive forces these relations turn into their fetters. Then begins an epoch of social revolution.

- Karl Marx

The bourgeoisie cannot exist without constantly revolutionizing the instruments of production, and thereby the relations of production, and with them the whole relations of society.

- Karl Marx and Friedrich Engels

Race Against The Machine:

While the foundation of our economic system presumes a strong link between value creation and job creation, The Great Recession reveals the weakening or breakage of that link. This is not merely an artifact of the business cycle but rather a symptom of deeper structural change in the nature of production. As technology accelerates on the second half of the chessboard, so will the economic mismatches, undermining our social contract and ultimately hurting both rich and poor...

Erik Brynjolfsson and Andrew McAfee, Race Against The Machine: How the Digital Revolution is Accelerating Innovation, Driving Productivity, and Irreversibly Transforming Employment and the Economy

From Foreign Affairs Magazine:

In a free market the biggest premiums go to the scarcest inputs needed for production.
In a world where capital such as software and robots can be replicated cheaply, its marginal value will tend to fall, even if more of it is used in the aggregate. And as more capital is added cheaply at the margin, the value of existing capital will actually be driven down.

- Erik Brynjolfsson, Andrew McAfee, and Michael Spence
Labor, Capital and Ideas in the Power Law Economy
Foreign Affairs Magazine, July/August 2014

From the National Bureau of Economic Research:

In short, when smart machines replace people, they eventually bite the hands of those that finance them.

- from the working paper "Robots Are Us: Some Economics of Human Replacement"

On the Lighter Side:

For following joke is attributed to cosmologist Stephen Hawking:

Scientists finally achieve the creation of a strong AI system capable of more computational power than all human brains combined.
The first question they ask it is, "Is there a God?"

The AI responds, "There is now."

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