> There will be very hard parts like whole classes of jobs going away, but on the other hand the world will be getting so much richer so quickly that we’ll be able to seriously entertain new policy ideas we never could before
Real wages haven’t risen since 1980. Wealth inequality has. Most people have much less political power than they used to as wealth - and thus power - have become concentrated. Today we have smartphones, but also algorithm-driven polarization and a worldwide rise in authoritarian leaders. Depression and anxiety affect roughly 30% of our population.
The rise of wealth inequality and the stagnation of wages corresponds to the collapse of the labor movement under globalization. Without a counterbalancing force from workers, wealth accrues to the business class. Technological advances have improved our lives in some ways but not on balance.
So if we look at people’s well-being, society as whole hasn’t progressed since the 1980s; in many ways it’s gotten worse. Thus the trajectory of progress described in the blog post is make believe. The utopia Altman describes won’t appear. Mass layoffs, if they happen, will further concentrate wealth. AI technology will be used more and more for mass surveillance, algorithmic decision making (that would make Kafka blush), and cost cutting.
What we can realistically expect is lowering of quality of life, an increased shift to precarious work, further concentration of wealth and power, and increasing rates of suffering.
What we need instead of science fiction is to rebuild the labor movement. Otherwise “value creation” and technology’s benefits will continue to accrue to a dwindling fraction of society. And more and more it will be at everyone else’s expense.