Rise of the Robots: Technology and the Threat of a Jobless Future
Rise of the Robots: Technology and the Threat of a Jobless Future book cover

Rise of the Robots: Technology and the Threat of a Jobless Future

Hardcover – May 5, 2015

Price
$14.34
Format
Hardcover
Pages
352
Publisher
Basic Books
Publication Date
ISBN-13
978-0465059997
Dimensions
6.5 x 1.5 x 9.5 inches
Weight
1.25 pounds

Description

“A careful and courageous examination of automation and its possible impact on society.” — Kirkus Reviews “In Rise of the Robots , Ford coolly and clearly considers what work is under threat from automation.” — New Scientist “Makes clear the need to come to grips with ever more rapidly advancing technology and its effects on how people make a living and how the economy functions.” — Pittsburgh Tribune-Review “Of all the moderns who have written on automation and rising joblessness, Martin Ford is the original. His Rise of the Robots: Technology and the Threat of a Jobless Future is due out this May.... Self-recommending.” — Marginal Revolution “Robots, and their like, are on the rise. Their impact will be an important question in the next decade and beyond. Martin Ford has been thinking in this area before most others, so this book deserves very careful consideration.” —Lawrence Summers, President Emeritus and Charles W. Eliot University Professor, Harvard University “Compelling and well-written… In his conception, the answer is a combination of short-term policies and longer-term initiatives, one of which is a radical idea that may gain some purchase among gloomier techno-profits: a guaranteed income for all citizens. If that stirs up controversy, that's the point. The book is both lucid and bold, and certainly a starting point for robust debate about the future of all workers in an age of advancing robotics and looming artificial intelligence systems.” —ZDNet “An alarming new book.” — Esquire “A thorough look at how far machines have come” — Washington Post , Innovations blog “Ford tells great stories, both about innovation in the last 50 years and about the potential impacts of widespread automation of work in the future… Rise of the Robots is a competent, approachable, and well-written synthesis of information across many area, and provides a valuable, coherent picture of automation's socio-economic interactions.” — IEEE Technology and Society Magazine “Ford offers ideas on changes in social policies, including guaranteed income, to keep our economy humming and prepare ourselves for a more automated future.” — Booklist Winner of the 2015 FT & McKinsey Business Book of the Year Award A New York Times Bestseller Top Business Book of 2015 at Forbes One of NBCNews.com 12 Notable Science and Technology Books of 2015 “For nonfiction, I tip my hat to Martin Ford's Rise of the Robots, which is vacuuming up accolades and is recommended reading for IIF staff. Ford's analysis, in a somewhat crowded field of similar books, offers a sobering assessment of how technology (robotics, machine learning, AI, etc.) is reshaping labor markets, the composition of growth, and the distribution of income and wealth, and calls for enlightened political and policy leadership to address coming, accelerating disruptions and dislocations.” — Bloomberg Business , Timothy Adams ““We are in an era of technological optimism but sociological pessimism. Martin Ford's Rise of the Robots captures why these shifts are related and what challenges this might pose to our conventional economic and social infrastructures.” — Bloomberg Business , Andy Haldane “[Ford's] a careful and thoughtful writer who relies on ample evidence, clear reasoning, and lucid economic analysis. In other words, it's entirely possible that he's right.” — Daily Beast “ Rise of the Robots is an excellent book. Fair-minded, balanced, well-researched, and fully thought through.” —Inside Higher Ed, Learn blog “Surveying all the fields now being affected by automation, Ford makes a compelling case that this is an historic disruption—a fundamental shift from most tasks being performed by humans to one where most tasks are done by machines.” — Fast Company “Well written with interesting stories about both business and technology.” —Wired/Dot Physics “Whether you agree or not with the policy prescriptions put forward by [Martin Ford's Rise of the Robots and Anne-Marie Slaughter's Unfinished Business] these two well-written books, and quite a few will likely disagree, they are important reads for those wishing to better understand and influence the future.” — Bloomberg Business , Mohamed El-Erian “Few captured the mood as well as Martin Ford in The Rise of the Robots , the winner of the FT and McKinsey Business Book of the Year Award, which painted a bleak picture of the upheavals that would come as ever-greater numbers of even highly skilled workers were displaced by machines.” — Financial Times “[A] breathtaking new book on modern economics.” —Forbes.com “Lucid, comprehensive and unafraid to grapple fairly with those who dispute Ford's basic thesis, Rise of the Robots is an indispensable contribution to a long-running argument.” — Los Angeles Times “If The Second Machine Age was last year's tech-economy title of choice, this book may be 2015's equivalent.” — Financial Times , Summer books 2015, Business, Andrew Hill “Mr. Ford lucidly sets out myriad examples of how focused applications of versatile machines (coupled with human helpers where necessary) could displace or de-skill many jobs… His answer to a sharp decline in employment is a guaranteed basic income, a safety net that he suggests would both cushion the effect on the newly unemployable and encourage entrepreneurship among those creative enough to make a new way for themselves. This is a drastic prescription for the ills of modern industrialization—ills whose severity and very existence are hotly contested. Rise of the Robots provides a compelling case that they are real, even if its more dire predictions are harder to accept.” — Wall Street Journal “Well-researched and disturbingly persuasive.” — Financial Times “[ Rise of the Robots is]about as scary as the title suggests. It's not science fiction, but rather a vision (almost) of economic Armageddon.” —Frank Bruni, New York Times “As Martin Ford documents in Rise of the Robots , the job-eating maw of technology now threatens even the nimblest and most expensively educated...the human consequences of robotization are already upon us, and skillfully chronicled here." — New York Times Book Review “Martin Ford has thrust himself into the center of the debate over AI, big data, and the future of the economy with a shrewd look at the forces shaping our lives and work. As an entrepreneur pioneering many of the trends he uncovers, he speaks with special credibility, insight, and verve. Business people, policy makers, and professionals of all sorts should read this book right away—before the 'bots steal their jobs. Ford gives us a roadmap to the future.” —Kenneth Cukier, Data Editor for the Economist and co-author of Big Data: A Revolution That Will Transform How We Live, Work, and Think “If the robots are coming for my job (too), then Martin Ford is the person I want on my side, not to fend them off but to construct a better world where we can all—humans and our machines—live more prosperously together. Rise of the Robots goes far beyond the usual fear-mongering punditry to suggest an action plan for a better future.” —Cathy N. Davidson, Distinguished Professor and Director, The Futures Initiative, The Graduate Center, CUNY and author of Now You See It: How the Brain Science of Attention Will Transform the Way We Live, Work, and Learn “It's not easy to accept, but it's true. Education and hard work will no longer guarantee success for huge numbers of people as technology advances. The time for denial is over. Now it's time to consider solutions and there are very few proposals on the table. Rise of the Robots presents one idea, the basic income model, with clarity and force. No one who cares about the future of human dignity can afford to skip this book.” —Jaron Lanier, author of You Are Not a Gadget and Who Owns the Future? “Ever since the Luddites, pessimists have believed that technology would destroy jobs. So far they have been wrong. Martin Ford shows with great clarity why today's automated technology will be much more destructive of jobs than previous technological innovation. This is a book that everyone concerned with the future of work must read.” —Lord Robert Skidelsky, Emeritus Professor of Political Economy at the University of Warwick, co-author of How Much Is Enough?: Money and the Good Life and author of the three-volume biography of John Maynard Keynes Martin Ford , the founder of a Silicon Valley–based software development firm, has over twenty-five years of experience in computer design and software development. The author of The Lights in the Tunnel: Automation, Accelerating Technology, and the Economy of the Future , he lives in Sunnyvale, California.@MFordFuture

Features & Highlights

  • Winner of the 2015 FT & McKinsey Business Book of the Year Award
  • A
  • New York Times
  • Bestseller
  • Top Business Book of 2015 at Forbes
  • One of NBCNews.com 12 Notable Science and Technology Books of 2015
  • What are the jobs of the future? How many will there be? And who will have them? We might imagine—and hope—that today's industrial revolution will unfold like the last: even as some jobs are eliminated, more will be created to deal with the new innovations of a new era. In
  • Rise of the Robots
  • , Silicon Valley entrepreneur Martin Ford argues that this is absolutely not the case. As technology continues to accelerate and machines begin taking care of themselves, fewer people will be necessary. Artificial intelligence is already well on its way to making “good jobs” obsolete: many paralegals, journalists, office workers, and even computer programmers are poised to be replaced by robots and smart software. As progress continues, blue and white collar jobs alike will evaporate, squeezing working- and middle-class families ever further. At the same time, households are under assault from exploding costs, especially from the two major industries—education and health care—that, so far, have not been transformed by information technology. The result could well be massive unemployment and inequality as well as the implosion of the consumer economy itself.In
  • Rise of the Robots
  • , Ford details what machine intelligence and robotics can accomplish, and implores employers, scholars, and policy makers alike to face the implications. The past solutions to technological disruption, especially more training and education, aren't going to work, and we must decide, now, whether the future will see broad-based prosperity or catastrophic levels of inequality and economic insecurity.
  • Rise of the Robots
  • is essential reading for anyone who wants to understand what accelerating technology means for their own economic prospects—not to mention those of their children—as well as for society as a whole.

Customer Reviews

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Most Helpful Reviews

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Incredible book from page 75 on -- An AI Professor's Opinion

I have taught Artificial Intelligence (AI) for 3 decades at a major university. Until about 10 years ago, whenever someone worried about the effect of intelligent software/hardware destroying future jobs, I would always give my "buggy whip" argument, which goes like this:

"When the automobile was invented it DID destroy many jobs. Makers of buggy whips and horse troughs were put out of business. But many more NEW jobs were created to replace those older jobs. Witness all the gas stations, auto mechanic shops, car factories, etc."

About 8 years ago I lost faith in the buggy whip argument. I realized that, as the technology of AI advanced, a point would be reached in which intelligent software and general-purpose robots could perform all tasks (both mental and physical) that are currently achievable only by highly educated humans. Once one intelligent robot exists with a high level of general intelligence, it can be mass produced. There have been many advances in AI in recent years (in neural networks, planning and learning systems). Machine learning systems can now learn a number of complex cognitive tasks simply by observing the past performance of human experts.

I have always been an admirer of the combination of modern capitalism and (relatively) free markets as the major drivers of wealth. However, modern capitalism (with its corporations, stock and dividends) is less than a few centuries old. There is no reason to believe that it must last forever. Its "reign" over older economic systems may well end abruptly in the near future.

At one time I toyed with writing a book about my concerns regarding intelligent automation and its future effect on political and economic systems but Martin Ford has a done a 100-times better job that I could have ever done. His book is very persuasive in pointing out why the "buggy whip" argument will cease to remain persuasive.

I only have two complaints about Ford's book: (a) the title sounds a bit too much like a title for a pulp-fiction work and so I fear that not enough people will read it and (b) the first 75 pages consist of a standard summary of current economic facts and principles and so I fear that some readers may quit reading his book before they get to the really interesting parts, which in my opinion, start after page 75.
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Must Reading!

Economists have long derided early 1800s' Luddite 'lump of labor' belief that there was only a fixed amount of work to be done, and that labor-saving devices would detract from available jobs. Historically, that has been far from the case in the U.S. - advancing technology has steadily brought more prosperity for all. Even the mechanization of American agriculture, despite eliminating millions of jobs, failed to create massive unemployment - millions more new jobs became available in manufacturing. Then came automation and sending jobs to Mexico and the Far East (outsourcing, globalization, offshoring) - those lost jobs were replaced by new service jobs, often offering better wages. Until now.

America's economy is now obviously stuck in a rut, notwithstanding the almost daily reports of new technologies, green products, and purportedly beneficial free trade pacts. In fact, author Ford (and others) tells us we're now realizing this formerly symbiotic relationship between increasing productivity and rising standards of living began weakening in the 1970s. In a 1/2/2010 article, the Washington Post reported that the just completed first decade of the 21st century brought no new jobs, a first since the Great Depression. This 'lost decade' is especially astonishing when one also realizes our economy needs to create about a million jobs/year just to keep up with growth in the size of the workforce. Meanwhile, income inequality has rebounded, reaching levels not seen since 1929

Ford (mistakenly) attributes this new economy entirely to automation, severely underestimating the impact of offshoring. Regardless, automation has also been a major contributor to job losses both in manufacturing and service sectors, and underlying automation's increasingly rapid (geometric) growth - Moore's Law, applied to both computer power and memory. Both areas are seeing a rough doubling in capability every two years - continuing a pace that began about 40 years ago and now bringing unimaginable (scope and pace) change throughout our economy.

We now have experimental self-driving cars, IBM's 'Watson' defeating all-time Jeopardy! champions, innumerable 'ugly teller' ATMs taking the place much more attractive tellers, airplanes can now largely fly themselves, computers interpret some medical images, much legal discovery work now is performed far faster and cheaper with scanners and PC programs, cash registers not only automatically calculate change due - they also input customer-specific data into huge databases, meetings no longer require expensive and time-consuming travel, hardware stores are testing robots as greeters that also help direct customers and are able to immediately tell them if a part they're looking for is in stock, robots are becoming cheaper and much more easily programmable, etc. Thus, wages for new college graduates have been declining in real terms over the past decade and up to half of new graduates are forced to take jobs that don't require a college degree.

Two sectors have resisted automation - education and health care. The latter is slowly moving forward, helped by the accumulation and analyses of massive amounts of data that will slowly unravel a better understanding of 'What works' (many treatments don't help or are even harmful; regardless, many generally helpful treatments don't work for all patient situations), assist providers in accurate diagnoses (IBM's Watson is already training for this role) and providing helpful treatment reminders. Meanwhile, in the higher-education realm, MOOCs have been introduced, found wanting, and are now being improved and formally incorporated into degree/certificate programs. Elementary and high-schools have been the most resistant - however, adaptive learning has been introduced there and is also being steadily improved.

The fastest-growing market for robots is China - installations have grown about 25%/year since 2005, despite its relatively low wage rates. Another likely surprise - the source of much robot innovation. Microsoft's Xbox 360 console (available for $150) uses a webcam-like device that incorporates 3D machine vision capability that allows interaction simply by gesturing and moving within view of its camera. New 'Baxter' robots (about $20,000, can be used for light assembly, transferring parts between conveyors, packing products, tending machining operations) can be trained simply by moving its arms through the required motions - that robot can then send its 'learning' to others.

Standardized software and hardware building blocks have brought an explosion of application software for PCs, iPhones, iPads, Android apps, etc. Ford sees this pattern repeating with robots.

Ford's forecasts, unfortunately, cannot be taken at face value. For example, he sees 're-shoring' (bringing manufacturing jobs back to America) as becoming a major force, thanks to automation. Maybe. But will American robot manufacturing be competitive with Chinese robot manufacturing? If robots will tilt the playing field so much back in our favor, why are auto manufacturing building new plants in Mexico? And his claim that robots will allow siting American manufacturing closer to users ignores the reality of scale economies and the powerful existing transportation economies created by 1.5 mile-long trains transporting cargo containers across the U.S. Some industries will benefit (eg. fashion clothes), others will not.

Low wages and a nearly complete lack of benefits have drawn intensive criticism and media coverage for the fast-food industry. Yet, when McDonald's launched a high-profile 2011 initiative to hire 50,000 new workers in a single day, it received over one million applications. Meanwhile, Momentum Machines is working to fully automate the production of gourmet-quality hamburgers, believing its device will pay for itself in less than a year. Another potential advantage - improved hygiene as fewer workers would come in contact with the food.

'Retail worker' is another sector with very-high employment numbers. There we already have disruption via online retailers like Amazon and Netflix. Once jobs move to a warehouse they become far easier to automate - eg. Amazon is now placing Kiva robots (small devices that bring specific shelves to workers, rather than having workers walk to shelves) and one Wall Street analyst estimates those robots will allow Amazon to cut fulfillment costs up to 40%. Kroger warehouses are working on an even more sophisticated system eliminating labor used for storing items in its warehouses and preparing pallets for store delivery. Meanwhile, Netflix has driven Blockbuster etc. out of business, and Amazon et al have recently eliminated Borders and Circuit City from the landscape, and eg. movie rental kiosks (eg. Redbox) seem to be an anachronism,.

Ford then continues, considering the impact of robots on agriculture, and more intellectual realms.
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Seriously-Flawed Dystopian View

OK, looks I'm the only person dumb enough to rate this a one-star, someone has to do it, may as well be me. I picked this up at the local library for what appeared to be a good summer read over the holiday weekend

I really wanted to like this book and it seemed to start out well enough, but after a few chapters Ford began veering off-topic and plowing into the weeds. At about a third of the way through I began speed-reading every other paragraph; at the halfway point, scanning one page every 15-20 seconds; around the 60-70% point, it was skimming, pausing to read a few sentences, skipping a page, more skimming, skipping 2-3 pages until the end. By the half-way mark, something about Fords basic thesis started to bother me but I couldn't quite put my finger on it at the time.

If you haven't been following the technology over the past decade, then the first third of the book does a passable job of bringing the reader up-to-date with what's been going on not only in the U.S. but in other countries as well, especially in China. Had he stuck to the technological side of robotics, especially in regards to developments in the coming one or two decades, then this would have been a far better effort. Instead, he chose to wander around haphazardly trying to take on major social and economic issues and failing at both; there were far too many overly-simplistic explanations. It seemed to me Ford just didn't want to take the time to dig a little deeper into these topics, a lot of his "analysis" seemed more like summaries based on a bunch of Google searches.

Robots are mechanical contraptions driven by computers driven by software driven by people writing the code. Robots and so-called artificial intelligence are two completely different topics; no robot operating today can be said to be truly intelligent, innovative, yes, but not actually intelligent in the formal sense of the word. The best bots in the world can barely operate at the level of a common house fly or cockroach; true, they're good at specific tasks like spray painting and welding, but they must work in a strictly-controlled environment. Yeah, I know I know, "but what about all those driverless cars?" Though a complicated task, driving is still a fairly specialized activity requiring huge amounts of processing and millions of lines of code just to keep the car on the road between the lines; the only we these things will ever be safe is to assign them to dedicated lanes with embedded wires & other tech to help guide them along.

Robots are being hyped-up today in the same way nanotechnology was twenty years ago. Yes, we've seen some great strides in nanotech but most of it is focused on the development of new materials -- we're no where near those wondrous nano-bots Eric Drexler was yammering on about some twenty years ago.

What I object to most about Ford's flawed dystopian view is that robots will be THE technology responsible for the complete breakdown of the global economy as we know it. Rubbish! Consider the transformative technologies from, say, the past 30 years: personal computers, the internet, cell phones, smart phones, e-books & ebook readers, tablet devices & apps, the Cloud, and social media: Did any of these cause our economy to collapse? Hell no! The economy not only thrived but GREW leaps and bounds!

For that matter, did the automobile destroy the economy of the early-1900's? How about the air plane? Radio, television, Coca-Cola, the washing machine? Did McDonald's, Taco Bell, KFC, Arby's and all the other fast-food joints put grocery stores out of business because people prepared fewer meals at home?

Entirely NEW classes of jobs were created along with NEW entrepreneurial opportunities, NEW businesses and NEW ways of doing things faster and better. True, the guy working at the candlestick factory lost his job but he was given the opportunity to start a small candlestick business at home then use the internet as his global storefront. Today, he can sell his cucumber-scented candles to customers virtually ANYWHERE in the world.

The U.S. population is rapidly aging and the rate of growth is declining, just as it is (or will be) in all first world industrialized countries like Japan; even with a generous immigration policy, we're actually going to NEED robots to help run things fifty or hundred years down the road. Japan is seeing this phenomenon NOW; it's no coincidence they've become the world's leader in advanced robotics. Another area where robots are desperately needed NOW is in outer space, specifically for the dangerous tasks of assembling large structures like space stations. The vacuum of space in very unforgiving to the poor astronaut who accidentally tears her suit or gets hit with a piece of space junk. Astronauts routinely have to interrupt EVA work due to things like solar flare eruptions, fatigue and low consumables. Robots don't have these problems.

Robots are -- and always will be -- appliances, like toasters (Battlestar Galactica fans will appreciate the analogy), but they will be a TRANSFORMATIVE technology, not a destructive one.
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Over repetition of material

Something that can be written in 10 pages is expanded needlessly into a thick book.
14 people found this helpful
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Techno-fear mongering

I am very interested in the subject of technology, and I bought Rise of the Robots because I wanted to keep abreast of the new developments in the field of robotics. Unfortunately, I got the latest in technology fear-mongering.

The mood of almost any discussion depends on one’s approach. Very great things are being done in computerization and robots right now. You’d never know it from the way Martin Ford writes about the subject. Great advances by folks in computerization are turned from gold to dung.

The book’s flawed central thesis is that since humans are beginning to design robots that can imitate many of the physical and mental tasks that humans used to do in the course of their daily professional lives, the human will soon have very little to no place in the working of the economy. It seems silly to write this argument plainly here. The application of productivity, technology, and scientific improvements have made life for any modern person much better in most ways than the lives of kings and queens of 400 hundred years ago. Yet Ford seems to think further progress would be a mistake.

As Ford spends most of his book hand-wringing on the subject of the progression of robots’ competence, he misses a key economic fact: There is always something to do. You don’t believe me? Consider the example of housework. Yes, housework. Over the last one hundred years, there have been great advances in household technology. Think laundry machines, dryers, dish washers, coffee machines, microwaves, vacuums, Roombas, ect. However productivity-increasing these devices may be, the time people spend cleaning their homes has not decreased over this time. The standards for housework have improved, and even though we spend as much time cleaning as we ever did, at least we can be happy we are living in ever-more clean and productive home environments.

Perhaps Ford can be forgiven for this key misconception. The fact that we humans will always be busy with something or other is a hard idea to swallow. Even towering economic figures like John Maynard Keynes thought that technology would advance to the point that we would have a leisure society, where no one would do much work. (How surprised would he be by the lives of society’s housewives, now in the workforce and with the burden of housework!) Where he really loses credibility is on the subject of globalization, which he laments as a net negative. Comparative advantage benefits to be had from globalization is one the closest things to settled fact in the field of economics. Even liberal lions like Paul Krugman don't question it. Here Ford waves a red flag for the reader to be wary of any of his other economic ideas.

I could question the some of his methodology in supporting his negative viewpoints, in particular the reliability of taking data from time spans ending in the wake of the worst recession in 80 years—the recovery which, by historical standards, is not over yet, as it typically takes ten years to fully get back to normal from financial crises. Rather, I would like to question the underlying premise of the book. Ford paints technology advance as some out of control force of nature. Yet none of the technological wonders he describes should be taken for granted. Moore’s Law sounds like a natural law and its working does involve the laws of physics, but it is not a law! Every day people—perhaps hundreds of thousands of them, billions if you consider political and legal establishments and the consuming public—undertake conscious actions that advance the abilities of computers to affect our lives. Why do they do these things? If these people were to not undertake actions supporting technological advance, Moore’s law would cease to exist. Ford would have the reader think these poor, misguided souls are authoring their own obsolescence. He never seems to contemplate the possibility that these individuals and even society are making purposeful choices for progress because it is in our collective self-interest. And in this case he ultimately gives none of us enough credit.
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Five Stars

Important exploration of the robotics changes that are altering the structure of jobs in our society and shaping a radically challenging future.
Martin Ford provides numerous examples about how technological change is displacing and de-skilling jobs, including even those of professionals and well educated workers. He depicts a world of declining and narrowing opportunities. He suggests one answer to the anticipated sharp decline in employment -- a guaranteed basic income. Economist Jeffrey Sachs writes: "Smart machines, artificial intelligence, nanotechnology, and the “Internet of things” are transforming every sector of the economy. Machines can outperform workers in a rapidly widening arc of activities. Will smart machines lead to a world of plenty, leisure, health care, and education for all; or to a world of inequality, mass unemployment, and a war between the haves and have-nots, and between the machines and the workers left behind? " Ford asks all the right questions and introduces us to the broad debate in a first rate read and book.
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Way to much Hyperbole, Lacks detail and economic background. Very politically motivated book unfortunately.

I'll be brief and to the point. I read a lot of economic books of all types and esp. those with a technological aspect. While Bostrom's recent Superintelligence book goes into great specific detail of AI and the "Singularity", etc this book by Ford lacks such detail entirely.

Here are my issues with this book (and I read it entirely and am nonbiased):
1. Written in 1st person. Such as "In my view the most effective solution is likely to be some form of basic income guarantee."(page 257). This is a childish and tedious way of writing such a book.

2. It's obvious that the author completely lacks any economic background or training past say intro level Hobbyist knowledge.
3. Generalities are abundant and specifics greatly lacking. Huge sweeping statements of what he says are things that will come to pass...all with a lot of flash and sexiness but very little supporting evidence presented for such. Annoying hyperboles everywhere. Unsupported opinions in other words. Here's an excellent example (page 219): " The vast majority of humanity would effectively be disenfranchised. Economic mobility would be nonexistent. The plutocracy would shut itself away in gated communities or in elite cities, perhaps guarded by autonomous military robots and drones. In other words, we would see a return to something like the feudal system that prevailed during the Middle Ages".

4. Political. Very. To the degree that it pollutes the book making it ineffective. An example (page 199) : " The tiny slice of of the population that's hoovering up more and more of the country's income simply isnt going to be able to spend it all, and that ought to be obvious in the economic data."
5. Digresses from the topic at hand to delve into climate change, income inequality, living wages, welfare, education. You name it. All with strong political stances.

6. Depends on the likes of Paul Krugman and IMF for substantiating evidence presented as the gospel with no deeper thought given.
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Well researched and thought out.... now how do we create the political will for the proposed changes.

Martin Ford makes a cohesive argument for automation contributing substantially to a downward economic spiral for the non-elite actors in the US (and world) economy. In concert with political decisions made over the last 40 years accelerating automation threatens us with (mounting and accelerating) deflationary pressure. Ford also discusses potential solutions, the most promising of which is a basic or guaranteed income. His arguments are cogent and well thought out, he provides ample evidence for his proposals and analysis.
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What is the Response to a Jobless Future?

The book delivers on its subtitle, the threat of a jobless future, and a few sleepless nights it will be for those who have never thought of this question. Unfortunately, the author strays into an area that he hasn't thought deeply about, a "solution" to the problem. A guaranteed income is his entire solution to a jobless future. It is not my field so I have no answers, but I have some questions that he should ponder for a revised edition. Humans need some work to make them whole, some can find it on their own but most cannot. Too much leisure time, with nothing to do for so many will be a huge problem. Drugs and alcohol will be the escape for many. Gangs, too, for camaraderie. And what about the population, a jobless future demands an ever decreasing human population. The more I think,of it, the more problems will need to be addressed, these are the tip of the iceberg.
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Interesting Read But Contains Several Flaws and Fallacies

The book provides for an interesting read, mainly the initial chapters where the author elaborates on the advances of automation and artificial intelligence. As the book progresses, the author expresses his concerns that in the future practically all labor will be replaced by automation - there are several flaws in this argument, and I would refer the readers to the chapter "The Curse of Machinery" in the book "Economics In One Lesson" by Henry Hazlitt. For me, the worse part was the latest chapters where the author defends a guaranteed income for everyone and also the taxation of capital instead of labor...
6 people found this helpful