Yes I'm aware but that was my position, technology negates the need for a lot of jobs, and this is only going to continue, completely reducing the industrial/manufacturing sector to minimism, then we have the service industry outsourcing many positions. Lets sat the work week was reduced ot 15 hours, assuming real wages are enough to live off of, and we a surplus population in the billions due to the length of life, with our week being 40 hours a week now, it would simply be 2 1/2 workers to make up that time slack in this world where we live 1000 years, however with techonology, and a surplus population of at least a billion, the market cannot possibly conform.
Its a myth that technology causes unemployment. If it did, why is our employment level virtually the same as it was in the 18th century? The fact is that consumer demand is potentially unlimited, and always outstrips the ability of producers to produce the things they want. When their ability to produce increases, so does consumer demand. In order to meet this new demand, more jobs are created.
Work hours go down as wealth increases not because there is less work to do, but because people are satisfied with doing less work. This happens precisely because real wages increase due to increases in the productivity of labor. So there is no assuming that real wages would be high enough to live off of. If work hours are reduced, its because real wages ARE high enough to live off of.
The surplus population is not a problem. The world population increased by 6 billion over the last century, yet living standards increased and employment didn't go drastically down.
Social Security would be done plain and simple, and in 10-25 years the economy is going to see a moderate to major reconstruction due to the baby boomers retiring, freeing up many positions, and due to a soon to be dearth , altering the pay scale, just imagine if the wouldn't be retiring for another 800 years.
Social security is going to tank no matter what. Its only a matter of time. If people start living 1000 years, there is simply no way we can support them in retirement. They will just have to work. If technology advances on the level this article predicts, it should be able to make old frail people healthy enough to work again.
What I see happening is a problem we have here and in most countries, where you have Ph.D's driving cabs to make ends meet, and with such as inundation of labor I would assume wages would be static, especially if we were to abolish the minimum wage.
What? I can't even begin to make sense of this.