If these destructive and dysfunctional segments of the population are allowed to grow, they can bring down the golden city on the hill
Robots are quickly taking over many tasks that humans once thought impossible for a machine to perform—including written content that appears in newspapers and elsewhere.
This is stated in an analysis by the chairman of the Institute for Global Economic Growth and MCon LLC-Richard Rahn, published in the “Washington Times” and quoted by BGNES.
Think about the work you have done in the past that may or soon will be done by machines. When I was a teenager, I spent a summer on a dairy farm doing things like lifting hay bales onto tractor-driven cars and then stacking those same hay bales in the barn. All this miserable work has long been automated – good thing.
The average farmer now feeds about 166 people, compared to only 26 in 1960. While studying, I also worked as a security guard and cashier in a supermarket. Much of this work is now done by customers at self-service points.
Much manufacturing, such as car assembly, has long been automated, and transportation is becoming increasingly automated through self-driving trucks and cars. With every wave of machines replacing humans, there are always claims that there will be no jobs in the future – yet new jobs are always emerging.
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In 1811, a rebellion began in the Nottingham area of England by textile workers known as Luddites, who feared that new textile mills would destroy their jobs. Over time, this name came to mean a person who opposed new labor-saving technologies.
The USA is facing a curious situation in which there is a so-called labor shortages, but the “labor force participation rate” has been declining since March 2000 after rising for most of the previous 30 years. There is no labor shortage; there is only a shortage of people with the necessary skills who want to work for the wages offered by businesses.
Many people prefer leisure to work because the financial benefits they receive from not working outweigh the after-tax benefits and loss of freedom from full-time employment.
The labor force participation rate is defined as “the number of people in the labor force as a percentage of the civilian non-institutional population who are working or actively looking for work.” It is considered a good indicator of the overall state of the economy.
Traditionally, about 90% of men between the ages of 25 and 54 were in the labor force. Teenagers and youth still in school have always had lower labor force participation rates than adults. But now we have many young men, not tied to school or work, and most importantly, with intact families, living on welfare or selling illegal drugs or committing other crimes.
The labor force participation rate for women is on average about 12 points lower than for men, and for black men it is on average about 4 points lower than for white men.
However, black women’s labor force participation rate is about 3 percentage points higher than that of white women. This probably reflects the fact that the marriage rate for black women is lower than that of white women, meaning that more of them have to support themselves.
The crime rate in the United States has been rising since World War II, peaking in the early 1990s and then declining until the last few years. The majority of crimes, especially violent crimes, are committed by young men aged 16-24. No one is afraid of a middle-aged or older woman of any race, an old man, or a small child walking down the dark street behind them.
Back in 1973, George Gilder (who is the author of important and bestselling books on economics and technology) wrote “Sexual Suicide” in which he correctly predicted and predicted the breakup of the family and what would happen to young men who are no longer under the control of a mother or a strong father who lives with them or a wife.
While women are usually stabilizing and civilizing, out-of-control young men are often highly destructive to both society and themselves.
We are now left with an entrepreneurial elite who, through the use of artificial intelligence and other technologies, are making unparalleled advances in the biological and physical sciences. These advances promise to cure almost all diseases and even reverse aging. Advances in productivity brought about by chemistry and robots are about to provide enough funds to end hunger and human drudgery.
Instead of rejoicing in this great reduction in human misery, a self-styled elite has emerged in academia and the media that seems intent on destroying the economic system that has enabled great prosperity, opportunity, and the basic freedoms that go with it.
In addition, there is an undereducated and undisciplined segment of the population that benefits from many of the achievements of the technological revolution but contributes almost nothing to it. If these destructive and dysfunctional parts of the population are allowed to grow, they can bring down the golden city on the hill.
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