The Physiocracists believed all economic value derived from land, and agriculture. Remember, there were few jobs prior to, or during this time. Jobs are an industrial age phenomenon not an agricultural age phenomenon. As we found ways to accumulate wealth we have found ever more reasonable ways to spread that wealth. Jobs were but one of the mechanisms used to spread wealth, one of the least effective. There is no way to know or understand today how the coming new economy will be structured, or how it will spread wealth. History shows us that it will likely be more efficient at this, but beyond this we can know little.
Musk is an intelligent man, but he knows no more, nor no less than you, or I. His opinion on this is interesting, but not particularly valuable. He is not a seer. Perhaps Universal income will become the norm, but I cannot understand how this would provide people with a sense of purpose in life, but then I see no further than Musk, so my opinion is no more valuable than his. So far, automation has not lead to a loss of jobs, but instead has allowed humans to be freed up to perform jobs, task, duties, which allow them to more fully use their very unique skills, and talents. It is this specialization which allows American workers to be paid such high wages. I expect this to continue. But whatever the system which evolves, it will provide the people within purpose, and meaning in life, and it will allow them to more fully use their talents, and skills. "People will have time to do other things, more complex things, more interesting things," says Musk. "Certainly more leisure time." Yes. This is simply a continuation of human history, each successive age, economic activity has been more interesting, more remunerative, and leisure has grown. We all like to believe we work harder than our progenitors, but this is wrong. Our lives are better, more productive, less stressful, less onerous, and filled with more leisure. I am comfortable Musk is correct about this. Our futures will be brighter, more prosperous, with more time for the things Americans love: family, friends, and work, oh, and leisure as well. Your kids will live better lives than you, we cannot see this today because we sit at the crux of a great change, an economic, political, social, technological change. This will likely be a change even greater than the one from hunter/gatherer economy to agricultural economy. Buckle in, it will be a wild ride!
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