Raising the Standard at UGA since 2013.

Podcast & Notes: “What Happens When the Job Market Becomes Automated”

Photo courtesy of Wikipedia.

Every podcast that The Arch Conservative produces will be accompanied by a conglomeration of “notes.”

These notes will include sources, mentions of what was not able to be covered in the time allotted for the podcast, and any other information those on the podcast deem relevant enough to include.

What follows are the notes for The Arch Conservative’s inaugural podcast:

First off, Will, Josh, and I would like to say that we thoroughly enjoyed getting together and recording this, the first of many podcasts for The Arch Conservative. We would also like to stress that there are more than a couple topics that we were unable to cover in the twenty or so minutes of the podcast. Some of these topics include:

– That the mass automation of jobs and the hollowing out of the middle-class. What will the weakening of the middle-class (due to the stratification of capital toward the people who own, code, and/or have a good bit to do with the robots in question) do to the economy? David Autor, an MIT economics professor shares his thoughts on the matter here.

– The “Demonetization of Quality of Life,” or the phenomenon of the rapid decrease in living costs around the world. Entrepreneur Peter Diamandis breaks down the widespread occurrence here. This trend is worthy of mention because it means that less money will be needed to sustain the average person’s life with any sort of universal basic income in the future, perhaps lessening the burden of the taxpayer in the end.

– There have been a number of pilot programs that test the effectiveness of universal basic income in poor communities. Some of these studies, it should be noted, are limited in scope and conducted by organizations who seek to prove the program’s success. However, many have been quite successful nonetheless. Here is a list of some of the programs.

The following links reference sources that we used during discussion or issues that we brought up, but could use a little more research.

– At the onset of this week’s discussion, Will mentions a McKinsey & Company study that states the rate of growth of automation and the threat it poses to the labor force. That study can be found here.

– An alternate finding by the same firm disputes the rate of change.

– More information (made very simple) on the rate at which technology advances.

– Milton Friedman on the Negative Income Tax, a system not too dissimilar from the idea of Universal Basic Income. His points on the relative (to the current welfare state) effectiveness of the system are relevant and were referenced in the podcast. He also holds his ground against another of The Arch Conservative’s favorite conservative intellectuals, William F. Buckley Jr., here.

– General information on technological advancement as it relates to the labor force.

– On the topic of universal basic income, a large part of our discussion, here are a few sources:

Relatively productive debate at the London Stock Exchange.

The Podcast:

—The Editors.

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