“That robots, automation, and software can replace people might seem obvious to anyone who’s worked in automotive manufacturing or as a travel agent. But Brynjolfsson and McAfee’s claim is more troubling and controversial. They believe that rapid technological change has been destroying jobs faster than it is creating them, contributing to the stagnation of median income and the growth of inequality in the United States. And, they suspect, something similar is happening in other technologically advanced countries.” […]
“It is this onslaught of digital processes, says Arthur, that primarily explains how productivity has grown without a significant increase in human labor. And, he says, “digital versions of human intelligence” are increasingly replacing even those jobs once thought to require people. “It will change every profession in ways we have barely seen yet,” he warns.”
Result from production algorithms failing to admit of https://en.wikipedia.org/wiki/Nash_equilibrium.
Man testing early television equipment in New York, 1959.
Photograph by Willard Culver, National Geographic
“The pleasures of wealth and greatness… strike the imagination as something grand and beautiful and noble, of which the attainment is well worth all the toil and anxiety which we are so apt to bestow upon it. … It is this *deception* which rouses and keeps in continual motion the industry of mankind.” - Adam Smith
Thanks to refsandquotes.tumblr.com for the heads up on this in regards to the last two posts.
All fancied up Nash equilibrium in response to Adam smith
"My friends and I who are building websites — we’re kids! We’re kids playing around with tools given to us by adults. In decreasing order of adultness, and leaving out an awful lot, I’m talking about things such as: the Von Neumann stored program computing architecture; the transistor; high-throughput fibre-optic cables; the Unix operating system; the sci-fi-ish cloud computing platform; the web browser; the iPhone; the open source movement; Ruby on Rails; the Stack Overflow Q&A site for programmers; on and on, all the way down to the code that my slightly-more-adult co-workers write for my benefit."
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