coalnewbie wrote:... and you think unemployment is bad now ...
This general issue has been growing for some time. As more and more work is done by machines, there is the capacity for huge productivity increases, but less and less need for actual people to participate in the production and get paid for it. This (along with outsourcing, of course) has affected the lower and middle financial classes the most -- think of all the factory jobs that were available 50 years ago and are not available now. I recently read an article about a factory where literally thousands of industrial robots were assembling iPads, work that would have been done by people 20 years ago. So far the "thinking" jobs have been impacted less than the hands-on jobs; but artificial intelligence could change that in the blink of an eye, when every desktop PC can think a thousand times faster and clearer than the guy at the keyboard. Put those artificial brains in humanoid robots that can pound nails and turn wrenches and climb ladders (and aren't afraid of heights

), and there will be no jobs at all that still require people, neither in the USA nor in the countries we have outsourced to. Vast productivity, but nobody getting paid. What then?