We explain a great change in the distribution of income by increased automation, which has directly replaced human labor in tasks that can be reduced to algorithms. If this process continues, we can expect a society where a substantial faction of the population has no economic function. Such a society would require substantial redistribution. The paper then explores some of the social and political implications of such development, and possible solutions. The problems arising from increasing automation must be addressed now.
Feb. 18, 2015, 12:03 p.m.