Sunday Posts

Robots were supposed to take over the universe. Singularity - the end of human history - was due in about a decades time. And, then, it was to be a different world altogether - one with self-knowing, self-replicating machines. But it seems that future may have been postponed.  If there is anything that the history of technological progress should teach us, it should be that we ought not to believe in the excited predictions that technology industry loves to make. It is part of their style - all those world-changing predictions! There is a vast difference between the rhetoric of Microsoft's seamlessly connected world and the reality of clunkiness of Windows; E-Commerce did well but the prognosis far outstripped the performance, and these are only the good examples. No aircraft ever fell out of the sky despite all the warnings of the Y2K doomsday: It did create a multi-billion dollar outsourcing industry though. And, there are those who are still waiting for the day whe...

Automation is Capitalism's great new prize and its most potent challenge. At once, it breaks the back of organised labour but puts into disarray the carefully constructed social system that we call Capitalism. It is Capital - that's what machines, robots and know-how are - becoming supremely productive and utterly meaningless at the same time. It is the realisation of an utopia, but also a moment of reality. It would potentially expand supply infinitely, as finite Human time will no longer be required, at the same time as perversely limiting demand, as nothing that is produced could be bought. The last bit is indeed the classic Marxist argument, but from the vantage point of 21st century, we see something that Marx did not. First, though Marx made some very insightful predictions, the empire was still only taking shape and at the time of Marx's death, the integration of global economy was still in its infancy. Also, for Marx, the nineteenth century capitalism was a ...