One of the things I’ve always thought is that technology will destroy capitalism as it’s known today. Given the advancement of technology, it seems inevitable that jobs will be lost as more and more machines take them over. Case in point, the kiosks at McDonalds that don’t require humans to take peoples orders are popping up all over the country. Each one of these kiosks eliminates a job. At a local grocer, a dozen self-serve checkout stands are monitored by a single employee. What happens to the other 11 people who used to man these stations? Don’t get me wrong, I have nothing against technology doing jobs for us, I’m more concerned with how it will affect how people are employed in the future and how that employment will affect capitalism.
In theory, I am a believer in a socialist type of government. I believe that the old adage “work hard and you’ll succeed” is only held up as true by those who succeed. A more truthful statement would be “if you’re lucky, you’ll succeed”. Just like evolution, it’s all about being in the right place at the right time. That said, I don’t think a socialist economy is possible because of human greed and laziness (and general stupidity), which leaves us with capitalism. But what happens when the factory owners, the people who employee millions suddenly don’t have to employee millions? Can capitalism continue to work in that environment? I don’t know, but times are a changing and we are about to find out. Read more here.