Today, a single farmer can produce as much goods as 100 farmers a half-century or less ago. That freed up labor for manufacturing and the service economy.



However, droids are now replacing humans in both manufacturing and services.



When does it stop?



Every time I go into a grocery store, I see more self-service checkout lanes and fewer manned ones. When RFID checkout comes into vogue, and it will quickly, an entire grocery basket will be scanned at once, and even fewer checkout clerks will be needed.



For a discussion of RFID, please see JCPenney to Eliminate All Checkout Clerks, Instead Using RFID Chips and Self-Checkout.



With each technological advance more and more goods and services are produced by fewer and fewer people. In isolation, that drives down costs, and in the process, standards-of-living have soared.



Because of ever-increasing productivity, it's easy to show that deflation is the natural state of affairs.



But what does that mean looking ahead? Will there be any jobs left? If so where? And what happens to the Fed's effort to prevent falling prices?



Riveting Video: Droids Taking Our Jobs



Let's start off with an entertaining, yet scary video by Andrew McAfee who asks Are droids taking our jobs?







Working Age Population vs. Projected Jobs







Notice the widening gap. Moreover McAfee states "If these predictions are accurate, that gap is not going to close. The problem is I do not think these predictions are accurate. In particular, I think my projection is way too optimistic. ... Because when I look around I think we ain't seen nothing yet when it comes to technology."



Video Discussion Points





Free Language Translation

Apple's SIRI

An article on Forbes about Apple, written by an algorithm (It's not decent it's perfect says McAfee). I tracked down the article: Forbes Earnings Preview: Apple, written by " Narrative Science ".

". Jeopardy: IBM Watson computer vs. Human who won 74 times in a row

If SIRI functionality increase according to Moore's Law (which it will) it will be sixteen times better than today, six years from now

Google Autonomous Car