... of our economic system This isnot something that will just work itself out This is something that we need to begin thinking about—and that is the primary subject of this book Copyrighted Material ... technology isnot just advancing gradually: it is accelerating As a result, the impact may come long before we expect it—and long before we are ready And yet, this issue is simply not on the ... this book, you are concerned about the issues raised here, then I hope you will consider speaking out Perhaps if enough people start to discuss these issues, even the economists will take notice...
... this is simply that, when we consider the market as a whole, the people who rely on jobs for their income are the same individuals who buy the products produced Another way of expressing this is ... roughlydouble everytwo years Moore’s Law is, of course, not a “law” at all— certainly not in the sense that physical rules like the ones postulated by Isaac Newton are laws It is, however, an accurate observation ... solutions for cancer and for diseases such as Huntington’s and Parkinson’s Another major player in this area is the Berkeley Open Infrastructure for Network Computing (BOINC) This special software, developed...
... errors This liability, of course, also exists for radiologists, but it is distributed across thousands of doctors However, it is certainly possible that legislation and/or court decisions will ... Still, it seems likely that the radiologist’s job is at higher risk of being automated in the near future.* A big part of the reason for this is that the radiologist has what I call a software job ... global crisis that followed The point of this, of course, is that it would have been impossible to create these weird derivatives without access to very powerful computers If the subprime crisis had...
... all this is shown by the other line on this chart This, of course, is the geometrically increasing line that represents technological advance Obviously, technology is going to have a highly disruptive ... ask is: where will this increase in demand come from? Who is going to step forThis is in no way intended to disparage Easterly’s book—which gives many very useful insights into the economic issues ... raises an important point What education and training would we require of a person who dispensed such information? Would this person need to be a doctor? Perhaps not, but clearly this would not...
... might notice is that the issue we have been focusing on in this book—technological acceleration—does not appear in the list at all In fact, in the conventional view of the future, technology is ... whole Historically, the U.S stock market has often anticipated recessions by six months or so Likewise, recovery from a recession is very often preceded by a rise in the stock market This predictive ... note that there are also signals which tend contradict this conclusion: before the advent of the current crisis, unemployment as measured by the government, remained very low However, there is...
... technology isnot just physical machines; it is also techniques, processes and distributed knowledge The reality, however, is that the historical distinction between machines and intellectual capital is ... noted that China does not yet have an integrated, self-sustaining modern economy This is equally true of India India is essentially an impoverished, developing nation with a government that is ... rapidly in times of crisis While not everyone may agree with the wisdom of each specific action taken by the Federal Reserve as the crisis has unfolded, very few would dispute the fact that these...
... people will, of course, feel that all this is pure fantasy Obviously, this isnot an idea that is going to be feasible in the near future, and it clearly could not occur at all if we don’t find a ... industrialized society in which 95 percent of the population is impoverished and leads a subsistence level existence with little or no discretionary income, while the remaining percent receives ... drive your sales (exactly as the wages paid by other businesses today) We must find a way to redirect income to large numbers of consumers, or market demand will not be sustainable It isnot necessary...
... presented in this book might be said to constitute a hypothesis, or perhaps a theory that is still lacking in substantial supporting evidence This book is obviously not based on an analysis of historical ... ideas on the basis of what is presented here alone My intent in writing this book has been to try to raise the general level of awareness regarding this issue My hope is that economists and others ... low income won t matter This is an idea that is often expressed in conjunction with a discussion of advanced nanotechnology Nanotechnology may one day offer the promise of material objects constructed...
... income and confidence in the future If this issue isnot addressed, the result will be a downward economic spiral It must be acknowledged that this idea is quite similar to the predictions that ... the Turing Test is that it is, as Turing pointed out in his paper, an “imitation game.” What it really tests is the ability of an intelligent entity to imitate a human being—it isnot a test of ... capitalism would suffer from a relentless “accumulation of capital,” resulting in massive unemployment and wages that would be driven down below subsistence level This in turn would result in diminished...
... errors This liability, of course, also exists for radiologists, but it is distributed across thousands of doctors However, it is certainly possible that legislation and/or court decisions will ... Still, it seems likely that the radiologist’s job is at higher risk of being automated in the near future.* A big part of the reason for this is that the radiologist has what I call a software job ... global crisis that followed The point of this, of course, is that it would have been impossible to create these weird derivatives without access to very powerful computers If the subprime crisis had...
... all this is shown by the other line on this chart This, of course, is the geometrically increasing line that represents technological advance Obviously, technology is going to have a highly disruptive ... ask is: where will this increase in demand come from? Who is going to step forThis is in no way intended to disparage Easterly’s book—which gives many very useful insights into the economic issues ... raises an important point What education and training would we require of a person who dispensed such information? Would this person need to be a doctor? Perhaps not, but clearly this would not...
... might notice is that the issue we have been focusing on in this book—technological acceleration—does not appear in the list at all In fact, in the conventional view of the future, technology is ... whole Historically, the U.S stock market has often anticipated recessions by six months or so Likewise, recovery from a recession is very often preceded by a rise in the stock market This predictive ... note that there are also signals which tend contradict this conclusion: before the advent of the current crisis, unemployment as measured by the government, remained very low However, there is...
... consumerism is very much out of fashion, and this is really not a good thing The media is replete with stories about how Americans have gone out and spent too much on big screen TVs These stories miss ... this is a belief system that is fundamentally Copyrighted Material – Paperback/Kindle available @ Amazon THE LIGHTS IN THE TUNNEL / 160 based on the historical reality that human labor is indispensable ... thinker This person is likely to advocate the smallest possible government and a market that is as free and unregulated as possible Nonetheless, this person—if he or she is reasonable is very unlikely...
... presented in this book might be said to constitute a hypothesis, or perhaps a theory that is still lacking in substantial supporting evidence This book is obviously not based on an analysis of historical ... ideas on the basis of what is presented here alone My intent in writing this book has been to try to raise the general level of awareness regarding this issue My hope is that economists and others ... low income won t matter This is an idea that is often expressed in conjunction with a discussion of advanced nanotechnology Nanotechnology may one day offer the promise of material objects constructed...
... might notice is that the issue we have been focusing on in this book—technological acceleration—does not appear in the list at all In fact, in the conventional view of the future, technology is ... whole Historically, the U.S stock market has often anticipated recessions by six months or so Likewise, recovery from a recession is very often preceded by a rise in the stock market This predictive ... note that there are also signals which tend contradict this conclusion: before the advent of the current crisis, unemployment as measured by the government, remained very low However, there is...
... consumerism is very much out of fashion, and this is really not a good thing The media is replete with stories about how Americans have gone out and spent too much on big screen TVs These stories miss ... this is a belief system that is fundamentally Copyrighted Material – Paperback/Kindle available @ Amazon THE LIGHTS IN THE TUNNEL / 160 based on the historical reality that human labor is indispensable ... thinker This person is likely to advocate the smallest possible government and a market that is as free and unregulated as possible Nonetheless, this person—if he or she is reasonable is very unlikely...
... people will, of course, feel that all this is pure fantasy Obviously, this isnot an idea that is going to be feasible in the near future, and it clearly could not occur at all if we don’t find a ... industrialized society in which 95 percent of the population is impoverished and leads a subsistence level existence with little or no discretionary income, while the remaining percent receives ... drive your sales (exactly as the wages paid by other businesses today) We must find a way to redirect income to large numbers of consumers, or market demand will not be sustainable It isnot necessary...
... presented in this book might be said to constitute a hypothesis, or perhaps a theory that is still lacking in substantial supporting evidence This book is obviously not based on an analysis of historical ... ideas on the basis of what is presented here alone My intent in writing this book has been to try to raise the general level of awareness regarding this issue My hope is that economists and others ... low income won t matter This is an idea that is often expressed in conjunction with a discussion of advanced nanotechnology Nanotechnology may one day offer the promise of material objects constructed...
... all this is shown by the other line on this chart This, of course, is the geometrically increasing line that represents technological advance Obviously, technology is going to have a highly disruptive ... ask is: where will this increase in demand come from? Who is going to step forThis is in no way intended to disparage Easterly’s book—which gives many very useful insights into the economic issues ... raises an important point What education and training would we require of a person who dispensed such information? Would this person need to be a doctor? Perhaps not, but clearly this would not...
... technology isnot just physical machines; it is also techniques, processes and distributed knowledge The reality, however, is that the historical distinction between machines and intellectual capital is ... noted that China does not yet have an integrated, self-sustaining modern economy This is equally true of India India is essentially an impoverished, developing nation with a government that is ... rapidly in times of crisis While not everyone may agree with the wisdom of each specific action taken by the Federal Reserve as the crisis has unfolded, very few would dispute the fact that these...