The future is upon us and robots are taking over, both on the internet and in real life – offices, factories etc. Robots have come to stay and they will be taking your job anytime soon – after all they are more efficient than you are and they don’t grumble – they also don’t ask for pee breaks.
In a future where robots take over jobs, unemployment will get a spike because no matter how many new jobs are created they will not be nearly enough. How do we deal with this job losses due to robots and automation?
Tax. Yes tax! That is the proposition made by Bill Gates. He says it will help provide funding for fields where humans are still needed like senior care and it would also help to slow down the rate of automation.
We might want to think this is not yet a problem we and so we should not worry about it right now, but it is. In fact, the reason banks find it easy to let go of workers from time to time is because they have found ways to automate the processes that workers were employed for.
So, you just wake up one day and your job has been taken over by a few lines of code and you are no longer needed, just like that. Bill Gates has it right with his suggestion that robots and automated processes should be taxed.
The long-term cost of taking people off jobs without providing a replacement for them outweigh the immediate benefits of efficiency and cost that might be accrued.