In a fascinating installment of the IEEE Techwise podcast [MP3], Rice University Computational Engineering prof Moshe Vardi discusses the possibility that robots will obviate human labor faster than new jobs are created, leaving us with no jobs. This needn't be a bad thing -- it might mean finally realizing the age of leisure we've been promised since the first glimmers of the industrial revolution -- but if market economies can't figure out how to equitably distribute the fruits of automation, it might end up with an even bigger, even more hopeless underclass.
I think the issue of machine intelligence and jobs deserves some serious discussion. I don’t know that we will reach a definite conclusion, and it’s not clear how easy it will be to agree on desired actions, but I think the topic is important enough that it deserves discussion. And right now I would say it’s mostly being discussed by economists, by labor economists. It has to also be discussed by the people that produce the technology, because one of the questions we could ask is, you know, there is a concept that, for example, that people have started talking about, which is that we are using, we are creating technology that has no friction, okay? Creating many things that are just too easy to do.
Many of these ideas came up in this Boing Boing post from January, which also touches on Race Against the Machine: How the Digital Revolution is Accelerating Innovation, Driving Productivity, and Irreversibly Transforming Employment and the Economy, a book that Vardi mentions in his interview.