A.I. , Jobs, and Fairness

Headline: “IMF report: 40 percent of jobs exposed to AI.”Exposed to” doesn’t exactly mean “will be taken over by,” but it seems likely that there will be a wave of A.I.-caused job obsolescence over the next couple of decades. Imagine, for example, that Ford Motor Company suddenly needs only half as many factory and clerical workers to build just as many just as good cars. Let’s say that this advance in productivity causes profits to quadruple. What happens to these extra billions of dollars, and what happens to the, let’s say, tens of thousands of workers put out of work? Without some enlightened policy implementation, ordinary people will be financially oppressed, the rich will get much richer, and the super rich will get super richer still.