Let's Rethink What Counts As Paid Work

[redqueen]

The ‘robot apocalypse’ is generating support for a once-in-a-generation rewriting of the basic contract of the labor market, writes chief economics commentator Greg Ip

As artificial intelligence and automation multiply, so do dystopian predictions that millions of employees will become redundant, their tasks performed more reliably and cheaply by a machine.

But must the “robot apocalypse” be quite so apocalyptic? It may provide a once-in-a-generation opportunity to rewrite the basic contract of the labor market: Your paycheck reflects your contribution. In this alternative future, robots will take over much of the routine drudgery, freeing millions of us to do what we truly love or society truly needs, from raising children to writing poetry to befriending the lonely.

The key to making this happen is “universal basic income,” or UBI, a lump sum every adult gets regardless of job status, income or ability. UBI proposals date back centuries but interest has surged in recent years. Advocates on the left see it as the solution to intensifying income inequality as automation displaces middle-skill jobs such as assembly line workers and secretaries...
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https://www.wsj.com/articles/lets-rethink-what-counts-as-paid-work-11578488558

Not a subscriber so I couldn't read (or copy) more than shown here, apologies for the truncated paragraph.

[redqueen]

1. p.s. - the robot apocalypse is not a far off thing!

Link to tweet

Let's now remember Stephen Hawking's advice on this unstoppable trend:

[gratuitous]

8. I tend to agree

DUers of a certain (ahem) age may remember all the new-fangled gadgets and inventions we've seen throughout our lifetimes touted as "labor saving devices." For example, you fill the dishwasher with dirty dishes and turn it on instead of scrubbing the dishes in the kitchen sink. But what happens to the time you've saved not doing the dishes by hand? Oddly enough, it gets eaten up by other demands on your time, demands that probably didn't exist before the advent of dishwashers as a common household item.

There are myriad little time thieves competing for your waking hours (and even your sleeping hours if you're anything like me, and I know I am). The more labor you "save" via automation, the more these little time thieves seem to multiply. Most days, finding time to just sit and read for half an hour seems as elusive as the end of the rainbow.

Who's making the decisions - right now, today - about whether this will be a boon for most people, even the miserably poor, or will it be another bulwark protecting the lives of luxurious leisure enjoyed by so few?

[redqueen]

9. It is just increasing efficiency.

Most people like dishwashers and other labor saving devices. I know I like mine.

For business this is just an attempt to increase efficiency. They are always going to look for ways to do things faster, with fewer errors, and at lower costs.

The main problem is that the benefits of automation have always been allowed to accumulate at the top. If this had not been the case, we'd all be working 20-hour, 4-day weeks.

Now that automation is shifting into high gear with the last phase of the fourth industrial revolution in sight, I'm hoping people will be motivated to ensure that doesn't continue.

[gratuitous]

10. The record thus far isn't encouraging, though

Worker productivity has advanced by leaps and bounds since 1980, but wages have remained stagnant. All that additional wealth generated by more efficient labor has gone somewhere, but for the most part not into the pockets of the workers. We're long overdue for a correction in the economic system, one that values and pays labor before further enriching the already wealthy.

[redqueen]

11. Indeed - all the prosperity is being hoarded by those at the top.

We can change it, though. We have to.

[Johnny2X2X]

2. The US will be a wasteland

The greedy few will take all the gains for themselves.

[redqueen]

5. If we don't stop them, yes they will. nt

[Codeine]

12. I think that era is on the verge

of being relegated to the history books. I think we are on the cusp of making the changes necessary for increased economic equality and happiness.

I’m less sanguine about our ecological future, however; this may render any gains from the economic changes rather moot.

[ck4829]

15. Yep. Unless there is going to be a collective reaping of the benefits of automation

[Beringia]

3. I had a young person point this out to me

How you can go from 4 tellers in a bank, to 1 and there goes 3 jobs.

[redqueen]

6. Yep, most don't seem to notice this, though it's happening all around us.

It isn't some far-off threat, this is happening now.

[Amishman]

17. Banking is a good example

I work in IT, doing a lot of automation and software development / implementation projects.

Banks are desperately trying to automate as much as possible, especially in non-revenue generating positions. New loan origination systems that cut loan processing time and resources in half, and reduce the need for manual compliance verification. Improved credit analysis suites to reduce the number of credit analysts. What you see in an actual bank branch is just the tip of the iceberg.

Same thing with insurance, I've worked on automated underwriting projects that made hundreds of jobs redundant.

These are office jobs being eliminated. When we think about automation taking jobs, we first think of fast food kiosks, self driving trucks, and self checkout stands. It's much bigger.

In 10 years or less, the labor market is going to change dramatically as the balance of power on wages shifts permanently towards the employers.

We need true UBI as well as mandatory profit sharing. I also like the idea of requiring that any stock buyback be matched dollar for dollar in total bonuses paid to all employees and contractors. Want to buy back 250 million in shares? Prepare to spend 250 million in rank and file bonuses too.

[Beringia]

18. Thanks for sharing your story and expertise

[leftstreet]

4. I'd call it Rich People Kicking Back Some Fucking Profits

DURec

[redqueen]

7. That's what I'm talking about!!

[Codeine]

13. They need to be convinced

that it’s either that or guillotines. I’m cool either way.

[pecosbob]

16. They never change their ways until they see the scaffolds being erected

We've seen this drama play out before. The only alternative is to remove them from power, and that is the true determination of a peoples' will. How long will they tolerate this...your guess is a good as mine

[ck4829]

14. Nah, I'd rather have some Elysium-like society where all the rich people live in a gated paradise

in space thanks to automation and not sharing the benefits of that automation while everyone else is unemployed and sick and left to fend for themselves in a dystopian wasteland.

Because I'm sure I'll be one of those rich people living in Elysium. I just know it.

-Me... if I was an idiot.