Microsoft cofounder Bill Gates isn’t going to sugarcoat things: The increasing power of automation technology is going to put a lot of people out of work.
Business Insider reports that Gates gave a talk at the American Enterprise Institute think tank in Washington, DC this week and said that both governments and businesses need to start preparing for a future where lots of people will be put out of work by software and robots.
As for what governments should do to prevent social unrest in the wake of mass unemployment, the Microsoft cofounder said that they should basically get on their knees and beg businesses to keep employing humans over algorithms. This means eliminating payroll and corporate income taxes while also scrapping the minimum wage so that businesses will feel comfortable employing people at dirt-cheap wages instead of outsourcing their jobs to an iPad .... https://news.yahoo.com
