> You get more production with less labor, so you on average need to do less labor to meet your cost of living.
Citation Needed.
This isn’t how it works out in practice though. If the predictions of the 1950s were to come true, we’d all be working 10 hours a week and bringing in the same wages.
They weren’t wrong though. Efficiency did go up. It’s just that these efficiencies were never passed on to workers. Instead you’re now 3x productive, but for less money. That’s a pay cut.
The same thing happens if/when AI automates us all. We won’t become unemployed, because people like pmarca are scared to death of people with the time and energy to be mad about the raw deal they’ve been given. So instead, we’ll all get paid less, while working longer in more bullshit jobs.
Citation Needed.
This isn’t how it works out in practice though. If the predictions of the 1950s were to come true, we’d all be working 10 hours a week and bringing in the same wages.
They weren’t wrong though. Efficiency did go up. It’s just that these efficiencies were never passed on to workers. Instead you’re now 3x productive, but for less money. That’s a pay cut.
The same thing happens if/when AI automates us all. We won’t become unemployed, because people like pmarca are scared to death of people with the time and energy to be mad about the raw deal they’ve been given. So instead, we’ll all get paid less, while working longer in more bullshit jobs.