The Ability To Think

RealClearMarkets - We Are All Expendable Now: "The basic pattern is that any job that requires only perceptual-level skills-complex tasks of memory and pattern-recognition-can and will eventually be done by a machine. To justify a claim to higher productivity, we will have to be working on the conceptual level, as creative thinkers and most crucially as entrepreneurs, which is a much more demanding discipline.

This new era is not a curse but an opportunity. The whole reason for automating every kind of human work that can be automated is to increase the productivity of our labor. In previous waves of innovation, mechanization made many traditional jobs obsolete. A few years ago, I noticed a trend of naming children after old-fashioned blue-collar professions, such as "Cooper" and "Hunter" and "Mason," highlighting the fact that for most people, these names no longer stand for a profession or a kind of work. But those who made the transition to the new era in which many of these old jobs no longer existed are better off because the new technology has made everyone is so much more productive. Similarly, many of today's jobs will soon be expendable, but we will all be richer because we each have so many machines working for us, from the robot in an automated assembly line to the smartphone in our pockets.

But benefiting from this new era will require that we make the transition to working on a higher, more productive level. And that will require the ultimate in "skilled labor": the ability to think."

And those truly are the 1% today. By design of our overlords. Maybe even the 0.001%