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Robots Are Us: Some Economics of Human Replacement

March 14, 2015 by Admin Leave a Comment

This is a link to the National Bureau of Economic Research’s website.  There is a working paper here which you can download for a mere $5. I include it here as an example of the type of work being done from a neoclassical perspective on the subject of technological unemployment. Working Paper 20941 http://www.nber.org/papers/w20941 Here […]

Filed Under: Neoclassical, Theory

Oxford University: The Future of Employment

March 14, 2015 by Admin Leave a Comment

The following except is from the abstract of an in-depth study done by Carl Benedikt Frey and Michael A. Osborne on the susceptibility of various occupations to computerization. You may be interested in seeing where your line of work falls on their scale. As a machinist, I come in at number 358 with a probability of being […]

Filed Under: Neoclassical, Theory Tagged With: oxford, technological unemployment

Tesla Robot Dance: Steve Jurvetson on flicker

March 13, 2015 by Admin Leave a Comment

Tesla Robot Dance: Steve Jurvetson on flicker

Filed Under: "Tesla Robot Dance" by Steve Jurvetson on flickr

IBM’s Watson

February 23, 2015 by Admin Leave a Comment

IBM’s Watson

  IBM’s term for Watson is Cognitive Technology — think of what that terminology implies. Cognition refers to the psychological result of perception and learning and reasoning. Perception, learning, reasoning, this is a really big deal if we are talking about machines actually doing this. This is a game changer. Speaking of changing the game, check out […]

Filed Under: Artificial Intelligence, RoR Tagged With: jeopardy, watson

Rethink Robotics

February 23, 2015 by Admin Leave a Comment

Rethink Robotics

Photo of Baxter courtesy of Rethink Robotics Forget losing jobs to China or Mexico, this guy works for about $1 an hour and can be employed at that price right here in the United States. Although best suited to a limited range of tasks Baxter and his little brother Sawyer will only improve over time. […]

Filed Under: Robots, RoR Tagged With: baxter

Jeremy Rifkin

February 22, 2015 by Admin Leave a Comment

Jeremy Rifkin

In this video Jeremy Rifkin discusses how the internet is bypassing the capitalist market and facilitating the emergence of the Collaborative Commons. Although traditional market employment is going down due to technological change, Rifkin is optimistic that new opportunities are opening in the “internet of things” economy. We remain skeptical of why the “internet of […]

Filed Under: General Tagged With: rifkin

Meet Jules

February 22, 2015 by Admin Leave a Comment

Hanson Robotics specializes in animatronics for theme parks, but their aspirations run much higher. Their website says that they are working “to realize the dream of friendly machines who truly live and love, and co-invent the future of life”. Visit them at: http://www.hansonrobotics.com/ If we imagine the type of life-like realism their robots display with the […]

Filed Under: Robots, RoR Tagged With: jules, oxford

Interview with Neil Gershenfeld

February 22, 2015 by Admin Leave a Comment

Interview with Neil Gershenfeld

Is the Star Trek replicator about to become a reality? A machine which will build anything we request, molecule by molecule? Yes, according to Neil Gershenfeld, director of MIT’s Center for Bits and Atoms. In this interview, first broadcast on Fareed Zakarias’ CNN show The Global Public Square, Gershenfeld explains the nature of the work […]

Filed Under: General Tagged With: gershenfeld, zakaria

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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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