We are living in an exciting time where technological innovation is changing the way we live, work, do business, and fall in love. The economy is changing, but does this mean that “economics” itself will change?
Some futurists say so. Writers like Kevin Kelly suggest that artificial intelligence and machine learning are inexorably leading us toward the end of work. With the “inevitability” of automation replacing labor, Kelly and others predict a “third way” of economics that would replace capitalism and socialism. But rather than creating a new economic model, Kelly and some fellow futurists seem to be abusing economic (and political) terms.
Read more at Fee.org.