There is a common fear everywhere that pretty soon robots are going to take everyone's jobs. In a way, it is somewhat happening. In manufacturing industries, manual labor is being replaced with machinery that are more faster, precise and efficient. It also means there are minimal errors and little to no risk of injury and harm.
However, the biggest fear is not the fact that robots are starting to take over. The biggest fear is that people may soon be unemployed. Automation is a huge factor in most industries now.
According to Patrick Wilson from Forbes, what good are robots if people can not afford to buy the stuff robots make? He recalls an episode on television where he watched Anthony Bourdain speaking to a waiter. The two of them concluded that the world is different now, when it comes to waiters and customer experience. According to the two on-screen characters, in two decades, there may no longer be human waiters.
Wilson took several points from that lengthy conversation. He points out that waiters are not considered as professionals. It is considered as a low paying, low skill job. But he disagrees. It is an honorable profession because individuals are serving their fellow man.
What does this have to do with jobs and college degrees? According to Wilson, the reality is that too many people go to college because they think it is important for their careers and their successes. He points out that the excess supply of college educated people drives down salaries and wages. Plus, student debt is still real and a responsibility for most. He drills down further by saying that people would then earn less and spend less or nothing because they can not buy what the robots make. Eventually, productivity falls and companies would turn to robots for cheap labor.
For Patrick Wilson, government policies can do their bit but the reality is robot labor is taking over. However, there is another possible reality - in the future, the same tech that creates robots might make new human jobs that do not exist yet. But for that to happen, time must run its course. And even Wilson admits, he does not have the answer to the country's unemployment.
