What percentage of us CAN survive financially, after current technology is rolled out?

Summary

This video script explores the future of work, automation, and societal shifts, questioning whether technological advancements will allow individuals to support themselves. The speaker discusses the challenges faced by the disenfranchised, such as homelessness, and examines the consequences of widespread automation in industries like farming and manufacturing. The narrative questions the feasibility of universal basic income and highlights the potential for isolationism as a solution. The speaker concludes with a personal plan to achieve self-sufficiency by acquiring land and adopting a diversified farming approach, urging viewers to consider their future in an increasingly automated world.

Takeaways

• 😀 The rich control the products and technologies that the poor rely on, creating an imbalance in the economy.
• 😀 Automation and technology have the potential to make many forms of manual labor obsolete, reducing the need for workers.
• 😀 The most important question about the future of technology is whether every capable person can still produce enough wealth to support themselves.
• 😀 In highly developed countries, individuals cannot simply rely on subsistence farming or homesteading to survive due to legal restrictions.
• 😀 As automation progresses, more industries will be dominated by machines, leaving fewer jobs for humans in traditional sectors like farming and manufacturing.
• 😀 The transition to a world with near-total automation could result in a small percentage of the population being responsible for producing all goods and services.
• 😀 If automation leads to mass unemployment, people may be forced to migrate to a few industries that are still reliant on human labor, such as hairdressing or janitorial work.
• 😀 The concept of universal basic income (UBI) is questioned, with skepticism that those controlling automation would ever distribute wealth to the displaced poor.
• 😀 Isolationism is suggested as a potential fix, where communities could become self-sustaining by avoiding trade with the outside world, allowing everyone to contribute and survive.
• 😀 A personal solution to economic displacement is presented: achieving self-sufficiency by acquiring land, farming, and using technology to produce one’s own goods and services.

Q & A

What is the central question raised in the transcript regarding technology and the future of work?

The central question is whether, as technology advances, every capable person will be able to produce enough wealth to support themselves, or if some will be left without the means to sustain themselves due to automation and other technological developments.

Why is the ability for individuals to support themselves important, according to the speaker?

The ability for individuals to support themselves is crucial because it determines whether people can escape poverty or homelessness. If everyone can support themselves, then solutions like employment in low-skill jobs become viable. If not, alternative solutions must be considered.

How does automation affect manual labor in the economy?

Automation can render manual labor less competitive because machines can often produce goods more efficiently and at lower costs than humans. As automation progresses, many manual labor jobs may disappear, making it harder for individuals to compete in the market.

What example does the speaker give to illustrate the impact of automation on labor?

The speaker compares a manual farmer to one using self-driving tractors and combines. The automated farmer can feed over a thousand people, highlighting the potential for automation to drastically reduce the number of people needed in agriculture and other industries.

What is the concept of 'isolationism' as discussed in the transcript?

Isolationism refers to creating self-sufficient communities that do not engage in trade with the outside world. The idea is that if everyone within a community produces and consumes their own goods, they could survive without relying on global markets dominated by automation.

Why might isolationism be a potential solution for economic disparity?

Isolationism could offer a way for disenfranchised people to become more competitive in their local economy, as they would be less affected by the mass production and cheap labor that automation brings to global markets. This could help them maintain livelihoods and independence.

What is the speaker's opinion on Universal Basic Income (UBI)?

The speaker is skeptical about UBI, believing that it won't be fully implemented because those who control automated production have no incentive to give away their wealth. They argue that UBI would only be partially effective and may not be sustainable.

How does the speaker suggest individuals prepare for a future dominated by automation?

The speaker suggests that individuals prepare by becoming self-sufficient, particularly by acquiring land, growing their own food, and using technology to support themselves. Building a diversified farm and workshop could provide independence in an automated world.

What is the concern about the concentration of wealth due to automation?

The concern is that automation will concentrate wealth in the hands of a small group of people who own the automated production systems, while the majority of the population will be left without meaningful work or ways to support themselves, leading to increased inequality.

What example does the speaker give to show how automation can make certain industries more efficient?

The speaker gives the example of manufacturing, where robots and automation can produce goods much more cheaply than humans. This leads to lower prices for products and makes manual labor less competitive, as automated systems can produce the same goods at a fraction of the cost.