The wholesale substitution of intelligent technology for mass - TopicsExpress

The wholesale substitution of intelligent technology for mass wage labor and salaried professional labor is beginning to disrupt the workings of the capitalist system. The question economists are so fearful to entertain is: what happens to market capitalism when productivity gains, brought on by intelligent technology, continue to reduce the need for human labor? We are seeing the unbundling of productivity from employment. Instead of the former facilitating the latter, it is now eliminating it. But since in capitalist markets capital and labor feed off of each other, how will society respond when so few people are gainfully employed that there are not enough buyers to purchase goods and services from sellers? Jeremy Rifkin

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