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Larry Summers responds to Treasury Secretary Steven Mnuchin's comments on the impact of AI on the job market. Basically he said AI has no effect on the job market and won't for half a century. Summers responded, "I do not understand how anyone could reach the conclusion that all the action with technology is half a century away. Artificial intelligence is behind autonomous vehicles that will affect millions of jobs driving and dealing with cars within the next 15 years, even on conservative projections. Artificial intelligence is transforming everything from retailing to banking to the provision of medical care. Almost every economist who has studied the question believes that technology has had a greater impact on the wage structure and on employment than international trade and certainly a far greater impact than whatever increment to trade is the result of much debated trade agreements."

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Quantifying Technological Unemployment...

#ItsAmachineWorldAfterAll

Here's a link to the paper - "ROBOTS AND JOBS:
EVIDENCE FROM US LABOR MARKETS"
Daron Acemoglu
Pascual Restrepo
Working Paper 23285
(pdf) http://papers.nber.org/tmp/75835-w23285.pdf

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The labor for purchasing power idea is f'd in the a

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Have a peek at my reddit proposal for basic income and let me know what questions, comments and flames you have for me.

It's a cash flow by year that shows one way to structure it much cheaper than other proposals.

The spreadsheet is at https://docs.google.com/spreadsheets/d/1JC5RLVyW2ohKZljqQjjWkm0FGvdQ8mMp7sUq4BSjpl8/edit?usp=sharing

https://www.reddit.com/r/BasicIncome/comments/61lucv/its_time_to_put_actual_numbers_into_the_discussion/

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"A report by the consultancy firm PwC found that 30% of jobs in Britain were potentially under threat from breakthroughs in artificial intelligence (AI). In some sectors half the jobs could go."

#ItsAmachineWorldAfterAll 

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"Europe's first sex robot brothel has been forced to move after real-life prostitutes complained sex dolls were stealing their trade." In Barcelona. "Prostitutes who work in the city with Aprosex -- the Association of Sex Professionals -- objected saying a doll cannot match the services of a real person and denigrates real sex workers to merely being an object."

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Have you thought about what you are going to do with your "spare time" down the road? ... #ItsAmachineWorldAfterAll
' "Wired magazine asked the co-founder of language-generation software Narrative Science what percentage of news would be written by computers in 15 years. His reply: “More than 90 per cent.” ' ... here's a link to the 2012 article that's the basis for the prediction: https://www.wired.com/2012/04/can-an-algorithm-write-a-better-news-story-than-a-human-reporter/ 
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