Lifeboat Foundation: Safeguarding Humanity
Toggle light / dark theme

Blog

Category: economics – Page 179

By Paula Klein

Is work becoming obsolete? Will Americans learn to love their leisure time? As the spotlight focuses on AI and its various implementations, former Harvard Professor Jeffrey Sachs, now at Columbia University and a special adviser to the United Nations, has some strong and diverse opinions about the macroeconomic impact of robots on the role of work in the future.

At a Mar. 24 seminar hosted by MIT IDE — the same day Treasury Secretary Steven Mnuchin amazed the tech community by saying AI wasn’t even on his radar — Sachs described AI developments as a “huge” with implications as vast as any previous seismic technology wave. “We are in the midst of a major transformation” that will fundamentally change civilization from the past, he said.

Read more

The race is on to edit genes and prevent disease. But this technology is ripe for abuse.

Economic inequity already exists in the reproductive industry. IVF, for example, is not covered by insurance in most states (Massachusetts excepted), setting up a situation in which only infertile people with well-padded pockets can afford the treatment. And of course the well-off have easier access to good health care via quality private insurance — or their own bank accounts. Steve Jobs, for example, spent $100,000 in 2011 to sequence his genome and that of his pancreatic tumor — a bill not many could hope to afford.

“The beautiful thing about this [gene-editing] work is it offers an opportunity to intervene around the moment of birth,” says Katy Kozhimannil, an associate professor in the Division of Health Policy at University of Minnesota’s School of Public Health. “That said, as we pay attention to the opportunity of that moment, it’s important to bear in mind the value of liberty and justice for all.”

Read more

ES Emerging Technology are delighted to invite you to the second event in our Exponential Series!

Nathan Waters is a futurist, decentralist and entrepreneur. He is the founder of the monthly Ethereum blockchain meetup (SydEthereum) and Australia’s largest independent hackathon (Hackagong).

In this discussion Nathan will be presenting a new project for a blockchain-based economic protocol intended to transition humanity to a post-Capitalist future. We’ll be covering topics such as: runaway automation, technological unemployment, future of work and education, wage slavery, wealth inequality, rising precariat, universal basic income, peer production, platform co-operatives, post-scarcity and decentralised autonomous organisations.

Read more

The fear that automation in the form of robots or artificial intelligence is going to destroy jobs is widespread. But it can be difficult to gauge just how serious to take the threat. Different reports offer different estimations of how many jobs will be lost, while politicians and economists argue that technology creates as many jobs as it destroys, maintaining an equilibrium in employment over the long run.

But is this really true? A new study from the National Bureau of Economic Research aims to add some solid numbers to the debate, looking at the historical effects of robots on employment in the US. Economists Daron Acemoglu and Pascual Restrepo studied the US labor market between 1990 and 2007, looking at employment rates in different areas and industries while controlling for the influence of factors like increased imports from China and the offshoring of jobs.

Read more

The first of my major #Libertarian policy articles for my California gubernatorial run, which broadens the foundational “non-aggression principle” to so-called negative natural phenomena. “In my opinion, and to most #transhumanist libertarians, death and aging are enemies of the people and of liberty (perhaps the greatest ones), similar to foreign invaders running up our shores.” A coordinated defense agianst them is philosophically warranted.

Many societies and social movements operate under a foundational philosophy that often can be summed up in a few words. Most famously, in much of the Western world, is the Golden Rule: Do onto others as you want them to do to you. In libertarianism, the backbone of the political philosophy is the non-aggression principle (NAP). It argues it’s immoral for anyone to use force against another person or their property except in cases of self-defense.

A challenge has recently been posed to the non-aggression principle. The thorny question libertarian transhumanists are increasingly asking in the 21st century is: Are so-called natural acts or occurrences immoral if they cause people to suffer? After all, taken to a logical philosophical extreme, cancer, aging, and giant asteroids arbitrarily crashing into the planet are all aggressive, forceful acts that harm the lives of humans.

Traditional libertarians throw these issues aside, citing natural phenomena as unable to be morally forceful. This thinking is supported by most people in Western culture, many of whom are religious and fundamentally believe only God is aware and in total control of the universe. However, transhumanists —many who are secular like myself—don’t care about religious metaphysics and whether the universe is moral. (It might be, with or without an almighty God.) What transhumanists really care about are ways for our parents to age less, to make sure our kids don’t die from leukemia, and to save the thousands of species that vanish from Earth every year due to rising temperatures and the human-induced forces.

Continue reading “Why Aging Is a Disease” | >

History has shown us that only violence or huge disasters tend to reduce inequality. Which is frightening on it’s own.

The Great Leveller: Violence and the History of Inequality from the Stone Age to the Twenty-First Century By Walter Scheidel. Princeton University Press; 504 pages; $35 and £27.95.

AS A supplier of momentary relief, the Great Depression seems an unlikely candidate. But when it turns up on page 363 of Walter Scheidel’s “The Great Leveler” it feels oddly welcome. For once—and it is only once, for no other recession in American history boasts the same achievement—real wages rise and the incomes of the most affluent fall to a degree that has a “powerful impact on economic inequality”. Yes, it brought widespread suffering and dreadful misery. But it did not bring death to millions, and in that it stands out.

Read more

PWC predicts 30% of jobs to be automated by 2030s.

You’ve been warned before—robots are coming for your job. The speed of technological advancement, particularly in smart automation, has sprung countless economic studies and political warnings about how many people are likely to lose their jobs to this rise of the machines. But it’s not an easy number to peg down; estimates range from 5% to 50%.

The latest predictions from PricewaterhouseCoopers (pdf) survey the damage for specific countries. Analysts at the consulting firm said that by the early 2030s, 38% of US jobs are at a high risk of automation, more than in Germany, the UK, and Japan.

Continue reading “Why American jobs are more at risk of automation than jobs in Germany or the UK” | >

Historian Yuval Noah Harari makes a bracing prediction: just as mass industrialization created the working class, the AI revolution will create a new unworking class.

The most important question in 21st-century economics may well be: What should we do with all the superfluous people, once we have highly intelligent non-conscious algorithms that can do almost everything better than humans?

This is not an entirely new question. People have long feared that mechanization might cause mass unemployment. This never happened, because as old professions became obsolete, new professions evolved, and there was always something humans could do better than machines. Yet this is not a law of nature, and nothing guarantees it will continue to be like that in the future. The idea that humans will always have a unique ability beyond the reach of non-conscious algorithms is just wishful thinking. The current scientific answer to this pipe dream can be summarized in three simple principles:

Read more