Throughout history, capital and labor have been interdependent forces driving economic growth. Capital relies on labor to generate returns on investment, while labor depends on capital for wages. Despite historical fluctuations in their balance of power, classical economics suggests a theoretical long-term equilibrium where both parties benefit—capital sees growing returns, and labor enjoys rising wages. But is this equilibrium sustainable in the face of rapid technological advancements?

The post-World War II era, particularly from the late 1940s to the early 1970s, exemplifies the mutual benefit of capital and labor. This period saw unprecedented economic growth and a significant rise in the standard of living for the baby boomer generation in North America. However, starting in the 1970s, the balance of power shifted towards capital. This shift was marked by productivity gains increasingly benefiting returns on investment while wages stagnated. As a result, the once-synchronized growth of productivity and wages decoupled, favoring capital over labor and increasing income inequality and social stratification.

This was a substantial quantitative change with proportionally substantial quantitative social implications. Today, we are approaching a qualitatively different watershed moment that will fundamentally shift the balance of power and have profound social and political implications.

For the first time in history, technological advancements like AI and robotics enable capital to create labor rather than hire it. This shift disrupts the traditional labor-capital relationship, leading to ‘technological unemployment,’ where machines and AI replace human labor across various industries. The longstanding relationship of mutual co-dependence between capital and labor will be profoundly altered, and the equilibrium taught by classical economics will no longer hold, even in theory. The incentive for paying wages diminishes as technologies like AI and robotics increase productivity while reducing costs. It’s like having workers who produce more and more while getting paid less and less. The best part for capital is the ability to create and multiply its own ‘labor’ force or cut it when needed, increasingly faster and cheaper. Humans are not required.

Some argue we have heard similar Luddite concerns before, and historically, technological advances have worked out for the better. However, today’s technological unemployment fundamentally differs from past labor disruptions, such as those during the Industrial Revolution. In the past, displaced workers transitioned from one type of manual job to another, as capital still needed human labor to operate machines, oversee production, and manage resources. Today, machines can autonomously perform these tasks. Production is monitored by sensors, and resource allocation and management are handled by AI, reducing the need for human labor to the point of potential obsolescence.

The speed and depth of change we are experiencing today, combined with an accelerating pace, means we will witness much more happen in a much shorter timeframe than during the Industrial Revolution. This is not simply about replacing some manual jobs with others; it’s about making most human jobs obsolete across all industrial levels—from cashiers and production-line workers to accountants, brokers, lawyers, insurance and real estate agents, consultants, doctors, and even CEOs. Such a fundamental change, occurring over a few decades, will have revolutionary political and social implications, similar to how the Industrial Revolution spawned various social movements, uprisings, and political revolutions...

Read the rest of the article and watch the original video here: https://www.singularityweblog.com/tech-unemployment/

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From Mutual Dependence to Obsolescence: The Future of Labor in an AI-Driven Economy

Bold - INTRODUCTION & CHAP 1

Singularity University is not about the singularity and is not even a university. It is not about abundance and is not an exponential organization.

Then what is Singularity University about?!

Those are the claims I made and the questions I asked, and tried to address, during my recent presentation at a local meetup organized by Singularity University in the Netherlands. Check it out and judge for yourself.

You can watch the full video here: https://www.singularityweblog.com/socrates-deconstructs-singularity-university/

The Emperor Has No Clothes: Socrates Deconstructs Singularity University

Small Gods

Nikola Danaylov Author of Conversations with the Future,Insights from Interviewing 200+ Tech Leaders

💫✨Always Another Way Podcast ✨💫
✨💫Ep: 32 The World is Transformed by Asking Questions. With Nikola Danaylov, The Modern Day Socrates.

You don’t know what you don’t know and if you don’t ask the question, the answer is always no.

At the very least, you’ll walk away from this podcast smarter than you are today.

Don’t miss my conversation with Nikola. July 26 at 1pm CST. On Always Another Way Podcast Tell your friends. Let’s transform the world.

Nikola Danaylov is an Author, Futurist and Speaker. His Conversations with the Future is an International Bestseller and his popular Singularity.FM podcast is the reason why Danaylov has been called the “Larry King of the Singularity.”

Ep: 32 The World is Transformed by Asking Questions with Nikola Danaylov

This piece is published as part of the collection of 'Letters 
to the Earth', by HarperCollins - a collection of writings in response to
planetary crisis.

We Are In The Underworld And We Haven't Figured It Out Yet

Maria Farrell is the author of some of my most favorite op-ed pieces of 2020. She is very smart, gutsy, genuine, feisty, generous, and Irish. Her writing is sharper, it penetrates deeper and she’s not afraid to go further than most others. I have already learned a lot from her and have become a total fan. So it was a blast to have her on my podcast and I hope you enjoy our conversation as much as I did.

During this 2.5-hour interview with Maria Farrell, we cover a variety of interesting topics such as: why she is a reader who eventually became a writer for crooked timber and elsewhere; the image and mythology of Conor McGregor as the Fighting Irish; the biggest issues that humanity is facing today;  stories as tools we think with; futurism as an interest of those happy with the present; what Feminism can teach us about our smartphones; how China is selling Autocracy as a service; why the internet must be more than Facebook; whether technology is a magnifying mirror; the importance and impact of story; why I wasn’t welcome at Google and CISCO; Francis Fukuyama’s The End of History; why the Agrarian Revolution is history’s greatest fraud; the Prodical Techbro phenomenon; my interview with Tristan Harris; the Tragedy of the Commons as a false narrative; why no one is coming to save us from ourselves.

As always you can listen to or download the audio file above or scroll down and watch the video interview in full. To show your support you can write a review on iTunes, make a direct donation, or become a patron on Patreon: https://www.patreon.com/singularityfm

Maria Farrell on Technology, Ethics, Stories and the Prodigal Techbro

Singularity.FM is the first and best known singularity podcast - the place where we interview the future. 

Singularity.FM is a series of singularity podcast interviews with the best scientists, writers, entrepreneurs, film-makers, philosophers and artists, debating issues such as the technological singularity, transhumanism, artificial intelligence, life-extension and ethics.

Past guests of this singularity podcast include people such as Ray Kurzweil, Peter Diamandis, Noam Chomsky, Stuart Hameroff, Marvin Minsky, Aubrey de Grey, Max More, Michio Kaku, Vernor Vinge, Cory Doctorow, Charles Stross and many, many others.

From Mutual Dependence to Obsolescence: The Future of Labor in an AI-Driven Economy

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