AI hires

In economics 101 they teach that the two main drivers of the economy are labor and capital. In Europe’s social democracy they lean toward labor while in the US the emphasis is on capital. Both of these systems are based on consumption and thus both require population growth. Countries around the world, other than Africa, are in the throes of population decline meaning less consumption. Since consumers are also the producers, will automation be the solution. If there are fewer people and the productivity increases because of AI, will that balance the loss of workers. Just at the time when robotics can replace workers there will be fewer workers. Over the past year I have been to two eye doctors and working at both were a dozen young people, most of whom did not go to college. They were all trained on the job to use complicated electronic machines used to provide the doctor with information. This is the future of AI hiring and will occur in many businesses.