Comment Re:more data would be helpful (Score 2) 674
I think looking at history is not really a good predication, in the beginning you had primary industry which was mainly agriculture. Then you had the industrial revolution and people moved to the manufacturing industry. Through mass production and automation we transitioned to the service industry. But what happens when computer systems take over providing services, is there something past services? Or do we think services is a never-ending well of services we'll need as others are automated? Or that they won't need less and less maintenance? If I'm thinking 50 years in the future, remember this is as far back as 1963 was in the past, then there's a lot of jobs I think would be gone and not really many new ones to add.
Did anyone see the Tesla battery swap in 90 seconds? Imagine that + 50 years and I'm thinking you drive your car on top of a repair pod and it'll give your car a full overhaul and replace anything worn and damaged from a storage of spare parts, goodbye auto mechanic. Do you need any other services? No, those jobs are just gone vanished in a puff of smoke. And on your way home you can pick up a fast food meal from an automated burger joint. Unless you're taking one of the automated driverless taxis, that is. You could of course assume that we'll invent all sorts of frivolous and luxurious services to replace those jobs, but I don't think the paychecks will be getting that much bigger and the automation will only undercut the employees, not make it free.
Of course we're not running out of jobs, we'll still need lots of people to run these systems and there's lots of personal services that don't really translate well to a machine but we might be running seriously short on jobs. Don't assume that the market economy is interested in fixing this, if there's not any profit in adding more workers they don't care how many people are unemployed. At which point you might say supply and demand, lower wages and you'll get more jobs but mainly what's happening is that you're taking jobs from other places. It doesn't work if there's a global shortage of jobs compared to people that need a job, unless you're trying to undercut the computer to take jobs back. But those costs are dropping fast and it's not a race to the bottom we can win.