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Why the Robot Age May Create a Massive Deflationary Bust

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By Gregor Macdonald
Tuesday, January 29th, 2013

Why the Robot Age May Create a Massive Deflationary Bust

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By Gregor Macdonald on
Tuesday, January 29th, 2013
15

Executive Summary The transition back to an electricity-centric economy is regressive Declining net energy and peak expansion are co-incident Change that substitutes labor without providing a higher use for it is deflationary and results in inequality Our challenge is to find sustainable work for society If you have not yet read The Siren Song of the Robot, available free to all readers, please click here to read it first. Capitalism demands fast gains in productivity. Capitalism seeks revolutionary change. But it’s not clear whether a revolution in machine intelligence leads to a deflationary boom, per Schumpeter, or a deflationary bust. Writers such

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