Stephen Hawking: Machine Produced Wealth

Posted by admin on Wednesday, July 19, 2017

Stephen Hawking Money Quote saying wealth must be shared with the poor and fairly distributed to all if we continue toward machine and software generated production. Stephen Hawking said:
 
Everyone can live a life of luxurious leisure if the machine-produced wealth is shared Quote
 

“Everyone can enjoy a life of luxurious leisure if the machine-produced wealth is shared, or most people can end up miserably poor if the machine-owners successfully lobby against wealth redistribution” — Stephen Hawking

 

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Stephen Hawking is arguing that as machines and automation continue to produce more wealth, there will be two possible outcomes. If the wealth created by machines is shared broadly across society through policies like a universal basic income or wealth redistribution, then everyone could enjoy a high standard of living with plenty of leisure time.

However, if the owners of machines (e.g. large corporations) are successful at lobbying against redistributing the wealth produced by automation, then most ordinary people risk ending up in poverty as machines displace human workers but the benefits are not shared. So Hawking views wealth redistribution as key to ensuring that the gains of technological progress benefit all of society.

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