Same prophecy after 95 years
The article discusses economist John Maynard Keynes's predictions about a significant reduction in working hours by 2030 due to technological advancement, where he envisioned humans working only about 15 hours a week. Conversely, the article highlights Elon Musk's insights, which align with Keynes's vision, suggesting that artificial intelligence and robots could make work optional or disappear altogether within 10 to 20 years. Despite substantial increases in productivity and living standards, society has not yet achieved a radical reduction in working hours. This is explained by the fact that the distribution of technological benefits depends on economic and social arrangements. Control over modern technologies' ownership could lead to wealth concentration and reduced job opportunities, which necessitates new systems for income and taxation to ensure a fair distribution of the gains from production.
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