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Martin Ford Asks: Will Automation Lead to Economic Collapse?

Martin Ford Asks: Will Automation Lead to Economic Collapse?

2012-03-15
Source: Singularity Hub


Will the future be filled with cool technologies and endless opportunities or will our own creations lead to eventual doom? I tend to think the former. Technology has seemingly endless ability to improve the health, freedom, and happiness of our lives. Even optimistic futurists like Ray Kurzweil and James Canton admit, however, that the road to advancing technology is fraught with dangers. Super viruses, artificial intelligences run amok, environmental calamity – science has its threats as well as its promises. Yet there could be one near term problem that even futurists tend to ignore – economic collapse. Martin Ford, a silicon valley computer engineer, entrepreneur, and blogger has written The Lights In The Tunnel, a book which explores the economic implications of a world which is becoming increasingly automated. Ford proposes that in the upcoming years robots and computer programs will edge human workers out of their jobs and that unless we take drastic actions this will reduce mass market purchasing power, destroy consumer confidence, and shut down the global economy. Ford has the reader envision these changes during a thought experiment where lights in a tunnel represent purchasing power in the mass market (hence the title). Even after discussing the book with the author, I’m not convinced that The Lights In The Tunnel is an accurate prediction of our future, but I wanted to spread the question: what does increased automation mean for our economy?....





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