What the Industrial Revolution Tells Us about the Future of Automation
In the past 15 years, the labor force participation rate has dropped 4%. I would argue that this is an indicator that we are already permanently losing jobs to automation, and this trend will rapidly increase going forward, as automation gains momentum. I lean conservative&#x2F;libertarian on social issues, but I am adamant that we&#x27;re going to need a &quot;living wage&quot; stipend for the people who simply don&#x27;t have enough skills to participate in the future job market. I would further argue that unemployment and various entitlements are bridging the gap for now, but what&#x27;s happening will become explicit in the near future, because it will soon be too obvious to hide.<p>For a long time, I complained that the US couldn&#x27;t afford such a thing, but we&#x27;ve been running a huge deficit for decades, and no one seems to care, so why should we let a budget hold us back from things like a living wage and free higher education and a single-payer insurance system and any other entitlement you want to tack on?