• Post-Capitalist Society Home
  • Slouching Towards Dystopia
  • The Excellent Situation

The Rise Of The Robot Economy

A New Epoch of Social Revolution

  • Home
  • About

World Economic Forum 2016 Agenda

November 26, 2015 by Admin Leave a Comment

Still not convinced that the Rise of the Robots will trigger a significant socio-economic disruption? Consider this statement from the World Economic Forum about the theme of their 2016 meeting in Davos, Switzerland: Over 2,500 leaders from business, government, international organizations, civil society, academia, media and the arts will participate in the 46th Annual Meeting of […]

Filed Under: General

Bank of England Warns of Widespread Technological Unemployment

November 14, 2015 by Admin Leave a Comment

Andrew G. Haldane, Chief Economist at the Bank of England gave a speech titled “Labor’s Share” at the Trades Union Congress in London, England on Nov. 12, 2015. In it he warned that robots may destroy some 15 million jobs in England over the coming decades, nearly half of all employment. Here is a brief […]

Filed Under: General

MIT Technology Review: Who Will Own the Robots?

September 19, 2015 by Admin Leave a Comment

MIT Technology Review has published an excellent series of articles about the effects that general-purpose disruptive technologies will have on our economy. This link is to their latest piece, “Who Will Own the Robots?” It is a well-written and  balanced overview of the subject and a great introduction to where thinking on this subject currently […]

Filed Under: General Tagged With: economy, MIT, robots

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

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

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."

Creative Commons License
Original articles on postcapitalistsociety.net are licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.

Copyright © 2025 · News Pro Theme on Genesis Framework · WordPress · Log in