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In a society as technologically advanced as ours, the problem of “unemployment” and the problem of “how do we maximize productivity” are intimately related—coupled in an inverse functional relationship. By that I mean, as a rule, steps taken to improve one will screw up the other proportionally.
Here’s an example:
There are many jobs machines can do more efficiently, faster, and at less cost than can humans. So all we have to do to improve productivity in those areas is to get rid of the humans and replace them with machines.
As you can see, productivity skyrockets, but so does unemployment! With today’s technology, improving productivity is a very easy problem to solve…so long as you do not care about the increased unemployment it would cause.
Or we can look at that situation from its flip side:
Obviously there are machines that can do most things more efficiently, faster, and at less cost than humans, but let’s get rid of the machines and keep those jobs open for humans to do. They need the jobs.
Here we see employment being created or increased (unemployment lowered), but at a significant cost to productivity. Unemployment also is a fairly easy problem to solve if you do not care about the huge disadvantage to productivity and cost.
So it is obvious that you can easily improve the condition of either of those problems (unemployment or less than maximized productivity)—one at the expense of the other; but because of the inverse functional relationship, you cannot improve both at the same time.
Or so it would seem! (More on that point in the next thread.)
(This is part 4 of the "observations of the human predicament" series I am attempting.)
Here’s an example:
There are many jobs machines can do more efficiently, faster, and at less cost than can humans. So all we have to do to improve productivity in those areas is to get rid of the humans and replace them with machines.
As you can see, productivity skyrockets, but so does unemployment! With today’s technology, improving productivity is a very easy problem to solve…so long as you do not care about the increased unemployment it would cause.
Or we can look at that situation from its flip side:
Obviously there are machines that can do most things more efficiently, faster, and at less cost than humans, but let’s get rid of the machines and keep those jobs open for humans to do. They need the jobs.
Here we see employment being created or increased (unemployment lowered), but at a significant cost to productivity. Unemployment also is a fairly easy problem to solve if you do not care about the huge disadvantage to productivity and cost.
So it is obvious that you can easily improve the condition of either of those problems (unemployment or less than maximized productivity)—one at the expense of the other; but because of the inverse functional relationship, you cannot improve both at the same time.
Or so it would seem! (More on that point in the next thread.)
(This is part 4 of the "observations of the human predicament" series I am attempting.)