A Quote by R. Buckminster Fuller
U.S. labor leaders will realize that automation can multiply man's wealth far more rapidly than it is multiplying at present and that automation will leave all men free to search and research... Realizing the direct competition with foreign industry on a straight labor basis will mean swiftly decreasing wages per hour and longer hours and decreasing buying power of the public.
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It is not competition, but monopoly, that deprives labor of its product. Destroy the banking monopoly, establish freedom in finance, and down will go interest on money through the beneficent influence of competition. Capital will be set free, business will flourish, new enterprises will start, labor will be in demand, and gradually the wages of labor will rise to a level with its product.
Requiring the payment of higher wages will lead to a loss of some jobs and a raising of prices which drives companies to search for automation to reduce costs. On the other hand, those receiving higher wages will spend more (the marginal propensity to consume is close to 1 for low income earners) and this will increase demand for additional goods and services. Henry Ford had the clearest vision of why companies can actually benefit by paying higher wages.
American labor will realize that its function is not to increase jobs, but to multiply the wealth and to expand the numbers benefited by the wealth at the swiftest possible rate.
Automation is no longer just a problem for those working in manufacturing. Physical labor was replaced by robots; mental labor is going to be replaced by AI and software.
The equipment and weaponry will continually change and improve, and the size of the military will expand as needed, decreasing during times of peace. But the unyielding will of the soldier and the dedication of professional military leaders will not change. Our soldiers can do a great deal more under pressure than people think. You'd have to see them perform in combat to believe it.
If each year slightly less capital is invested in industry, the time will eventually come when the amount of equipment per laborer and, in consequence, the productivity and the wages of labor are less than they otherwise would be.
Bring on those tired, labor-plagued, competition-weary companies and ESOP will breathe new life into them. They will find ESOP better than Geritol. It will revitalize what is wrong with capitalism. It will increase productivity. It will improve labor relations. It will promote economic justice. It will save the economic system. It will make our form of government and our concept of freedom prevail over those who don't agree with us.
Whatever you are studying right now, if you are not getting up to speed on deep learning, neural networks, etc., you lose. We are going through the process where software will automate software, automation will automate automation.
In addition to replacing many jobs, automation will also transform other jobs. Professions involving high touch, personal relationships - such as clergy, dentists, and financial advisors, for instance - face the least risk of automation but will nevertheless be profoundly transformed.
The automation of automation, the automation of intelligence, is such an incredible idea that if we could continue to improve this capability, the applications are really quite boundless.
Since it is to the advantage of the wage-payer to pay as little as possible, even well-paid labor will have no more than what is regarded in a particular society as the reasonable level of subsistence. The lower ranks of labor will commonly have less, and if public relief were afforded even up to the wage-level of the lowest ranks of labor, that relief would compete in the labor market; check or dry up the supply of wage-labor. It would tend to render the performance of work by the wage-earner redundant.
The first rule of any technology used in a business is that automation applied to an efficient operation will magnify the efficiency. The second is that automation applied to an inefficient operation will magnify the inefficiency.
If they [women] are to be integrated more fully into our society than has been the case so far, changes in individual attitudes of both men and women, adjustments in the labor market, and action by public authorities, will all be necessary.
As we continue down the path of automation, virtually every city will have 24-hour convenience stores, 24-hour libraries, 24-hour banks, 24-hour churches, 24-hour schools, 24-hour movie theaters, 24-hour bars and restaurants, and even 24-hour shopping centers.
Rather than wringing our hands about robots taking over the world, smart organizations will embrace strategic automation use cases. Strategic decisions will be based on how the technology will free up time to do the types of tasks that humans are uniquely positioned to perform.
One finds fortunes built on slave labor, indentured labor, prison labor, immigrant labor, female labor, child labor, and scab labor - backed by the lethal force of gun thugs and militia. 'Old money' is often little more than dirty money laundered by several generations of possession.
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