Free Essay

Will Robots Create Economic Utopia

In: Business and Management

Submitted By vyoung
Words 495
Pages 2
Will Robots Create Economic Utopia?
The Globalization 3.0 that has brought us to the flattening world has intensified. In support of Thomas Friedman every day we have more robotics and automation attributing to the disappearance of middle class and menial jobs. Industries are transforming daily in every industry from customer service to driving trains. This will alter the job market greatly as robots increase and technology changes. Through automation we have high speed trading on Wall Street as well as day to day banking.
The digital economy is rapidly spreading and is transforming industries and replacing workers of all kinds and levels. The automation and digitization is amazing and intriguing to one when we think of the caliber of productivity and efficiency gains we will have from the global robotics industry and automation of the world, however we have to look at the impact this will have on the USA in the next century.
Over time Washington, D.C has discussed redistributing of wealth this reveals that the returns on ones employment or work is not just on wages, but in fact work is a major institution in society. The robots and automation has altered the job market requiring fewer workers or no workers to complete a task or a set of task from building cars to trading on Wall Street. Also with every new automation process one has to learn or become educated on new processes and many are being left behind due to the lack of knowledge in such mass growth of technology. It is safe to say that there will be jobs in the future, however the caliber will changes. An example given by Business week in the article was the Hilton Cincinnati Netherland Plaza in downtown Cincinnati in 1931, a premier example of French art deco in America once has a long line of women handling a bank of hotel phones and a group of working men in the basement running a printing press for the hotel’s daily newsletter and menus. These jobs are long gone and have been replaced by e-mail and desktop publishing creating the job of a webmaster and an app developer for smart phones.
No doubt the world has become more flat today and will continue to flatten as we move forward into the next century. At the rate of technological growth the political need to drive how to redistribute wealth should continue to be addressed in the robotic and digital economy by focusing on ways to expand the number of jobs even with the automation. Also motives to encourage corporation to add employers to their payroll through cross functional technological training to ensure wealth is not eliminated through job cuts but redistributed as robots, computers and algorithms expand.
Ehrhardt, Michael C. and Brigham, Eugene F. (2014) Corporate Finance: A Focused
Approach (5th Ed.). Mason, OH: South-Western, Cengage Learning.

Similar Documents

Premium Essay


...Robotics: Utopia or Dystopia Robotics: Utopia or Dystopia? Table of Contents: Serial No. | Particular | Page No. | 01. | Introduction | 04 | 02. | Definition of a Robot | 04 | 03. | History of Robotics | 05 - 10 | 04. | The implications of robotics for jobs in manufacturing | 10-12 | 05. | The implications of robotics for jobs in the service sector: | 12 -13 | 06. | Robotics and future jobs, utopia or Dystopia | 13-15 | 07. | Conclusion: | 16 | 08. | Recommendation | 16 | 09. | References | 17 | Robotics: Utopia or Dystopia? Introduction: We are living in such an era, when the needs and demands of human beings are increasing day by day. To satisfy those needs, innovation and development in every field which guide the future of humanity is also proceeding in a rapid way. To meet the various needs and desires of the increasing population, inventors were seeking for a genuine solution which could provide the overwhelming challenges and will be able to meet the demands of the civilizations and that leads to the idea of mechanization. Inventors, who put forward the idea of mechanization, stated that by mechanization there would be great convenience for people to respond to their demands and can help them to complete their task in a short period of time. By following these principles, machines have started to meet the needs of increasing......

Words: 7086 - Pages: 29

Free Essay

Ai Final

...Artificial Intelligence and The Future of Humanity Artificial intelligence is the human-like intelligence demonstrated by machines and man made software. The artificial intelligence field is interdisciplinary meaning that it combines two or more academic disciplines or fields of study, in which a number and professions mesh together, including computer science, psychology, linguistics, philosophy and neuroscience, as well as other specialized fields such as artificial psychology. Major artificial intelligence researchers and textbooks define this field as the study and design of intelligent agents, where as an intelligence agent is a system that checks out its environment and takes the necessary actions that maximizes the chances of success(Artificial Intelligence, A.G. Cohn, R. Dechter). Now, this person John McCarthy, who coined the term in 1955, defined it as the science and engineering of making intelligent machines. Artificial intelligence research is very highly technical and specialized, and is deeply divided into sub fields that usually often fail to communicate with each other. Some of the division is due to social and cultural factors meaning that it will or will not function because of our multicultural race. Some sub fields have grown up around particular institutions and the work of individual researchers. Artificial intelligence research is also divided by several technical issues. Some sub fields focus on the solution of specific problems. Others focus on......

Words: 2664 - Pages: 11

Premium Essay

Robotic Surgery

...can also cost more than laparoscopic. Robotic surgery has been discussed for over two decades. Over the last decade, it has increased in popularity and applicability. There are many economic concerns over the use of this technology such as the cost versus the applicable use. There are also concerns about the implications the use of this technology will have on the environment, as well as moral and ethical concerns. By providing background information and history of this technology, information on the use of this technology, economical, sociological, and psychological effects and concerns associated with this technology, and information on environmental implications and moral and ethical concerns of this technology, we hope to provide readers a basis to form an educated opinion on the applicability of remote and robotic surgery. Table of Contents Abstract (Jesse Edwards)…...……………………………………………….…………………….ii Introduction (Jesse Edwards)……………………………………………….……………………..1 Description of Robotic Assisted Surgical Technology and What it Means to You (Gregory Dal Porto)………………………………………………………………………………………………1 What is Robotic Surgery (Gregory Dal Porto)..............………………………………….……….1 How Does it Work (Gregory Dal Porto)...………………………………………………………...1 What Types of Surgeries can be Done Using Robots (Gregory Dal Porto)...…………………….4 What Benefits are there for the...

Words: 16482 - Pages: 66

Premium Essay

Philosophy and Design

...Philosophy and Design Pieter E. Vermaas • Peter Kroes Andrew Light • Steven A. Moore Philosophy and Design From Engineering to Architecture Pieter E. Vermaas Delft University of Technology Delft the Netherlands Andrew Light University of Washington Seattle USA Peter Kroes Delft University of Technology Delft the Netherlands Steven A. Moore University of Texas Austin USA ISBN 978-1-4020-6590-3 e-ISBN 978-1-4020-6591-0 Library of Congress Control Number: 2007937486 © 2008 Springer Science + Business Media B.V. No part of this work may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, microfilming, recording or otherwise, without written permission from the Publisher, with the exception of any material supplied specifically for the purpose of being entered and executed on a computer system, for exclusive use by the purchaser of the work. Printed on acid-free paper. 9 8 7 6 5 4 3 2 1 Contents List of Contributors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Design in Engineering and Architecture: Towards an Integrated Philosophical Understanding . . . . . . . . . . . . . . . . . Peter Kroes, Andrew Light, Steven A. Moore, and Pieter E. Vermaas Part I Engineering Design ix 1 Design, Use, and the Physical and Intentional Aspects of Technical Artifacts. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ...

Words: 165744 - Pages: 663

Premium Essay


...Why This Person is Superior George Orwell as a Novelist George Orweel is one of the leading novelists of modern age. His novels express a powerful sattire on the political and social hypocrisies. By thw quality of his writing, he has achieved international fame and recognition. In his evolution as a novelist he moved from simple narration to symbolic expression. But he has been criticised by many critics due to the lack of sincere characteristics of a novel in his novels. It has bveen proved that he has failed as a novelist. Tom Hopkinson opines, “Orwell’s reputaion as awriter rests largely on his novels, but his gifts are not those of a novelist; and, if the novel had not happened to be the prevailing literary form during the twenty years when he was writing, he would proably never have been attracted to it. Orwell had little imagination, little understanding of human relationshipl, little sympathy with individual human beings- though much with humanity in general.” O.D. Leavis also found that he had “wasted a lot of energy trying to be a novelist. I think I must have read three or four novels by him and the only impression those dreary books left on me was that nature didn’t intend him to be a novelist.” Edward M. Thomas also found that he did not possess the temperment of a novelist. Thus Orwell, who wished to produce more than thirty novels, had to admitin aletter, written to his friend, Julian Symons, “You are perfectly right about my own character constantly intruding...

Words: 5149 - Pages: 21

Free Essay

La Singularidad

...NOTE: This PDF document has a handy set of “bookmarks” for it, which are accessible by pressing the Bookmarks tab on the left side of this window. ***************************************************** We are the last. The last generation to be unaugmented. The last generation to be intellectually alone. The last generation to be limited by our bodies. We are the first. The first generation to be augmented. The first generation to be intellectually together. The first generation to be limited only by our imaginations. We stand both before and after, balancing on the razor edge of the Event Horizon of the Singularity. That this sublime juxtapositional tautology has gone unnoticed until now is itself remarkable. We're so exquisitely privileged to be living in this time, to be born right on the precipice of the greatest paradigm shift in human history, the only thing that approaches the importance of that reality is finding like minds that realize the same, and being able to make some connection with them. If these books have influenced you the same way that they have us, we invite your contact at the email addresses listed below. Enjoy, Michael Beight, Steven Reddell, Here are some new links that we’ve found interesting: News articles, essays, and discussion on the latest topics in technology and accelerating intelligence. The Singularity Institute for Artificial Intelligence: think tank devoted to......

Words: 237133 - Pages: 949

Premium Essay


...Comments on FUTURE SHOCK C. P. Snow: "Remarkable ... No one ought to have the nerve to pontificate on our present worries without reading it." R. Buckminster Fuller: "Cogent ... brilliant ... I hope vast numbers will read Toffler's book." Betty Friedan: "Brilliant and true ... Should be read by anyone with the responsibility of leading or participating in movements for change in America today." Marshall McLuhan: "FUTURE SHOCK ... is 'where it's at.'" Robert Rimmer, author of The Harrad Experiment: "A magnificent job ... Must reading." John Diebold: "For those who want to understand the social and psychological implications of the technological revolution, this is an incomparable book." WALL STREET JOURNAL: "Explosive ... Brilliantly formulated." LONDON DAILY EXPRESS: "Alvin Toffler has sent something of a shock-wave through Western society." LE FIGARO: "The best study of our times that I know ... Of all the books that I have read in the last 20 years, it is by far the one that has taught me the most." THE TIMES OF INDIA: "To the elite ... who often get committed to age-old institutions or material goals alone, let Toffler's FUTURE SHOCK be a lesson and a warning." MANCHESTER GUARDIAN: "An American book that will ... reshape our thinking even more radically than Galbraith's did in the 1950s ... The book is more than a book, and it will do more than send reviewers raving ... It is a spectacular outcrop of a formidable, organized intellectual effort ... For the first time in......

Words: 159732 - Pages: 639

Free Essay

Social Business of Dr. Yunus

...Learning Report To: The Students of BBA & LLB Programme From: Muhammad Fazlur Rabb Tanvir Assistant Professor, School of Business, Metropolitan University, Sylhet. 10 October 2012 Social Business (Source: Yunus Talks on Social Business with British Council team, The Daily Star, Wednesday, 10 October 2012) Introduction: Social business, as the term is commonly used, was first defined by Nobel Peace Prize laureate Prof. Muhammad Yunus and is described in his books Creating a world without poverty—Social Business and the future of capitalism and Building Social Business—The new kind of capitalism that serves humanity's most pressing needs. A number of organizations with which he is involved actively promote and incubate social businesses. ( In Yunus' definition, a social business is a non-loss, non-dividend company designed to address a social objective within the highly regulated marketplace of today. It is distinct from a non-profit because the business should seek to generate a modest profit but this will be used to expand the company’s reach, improve the product or service or in other ways to subsidise the social mission. In fact a wider definition of social business is possible, including any business which has a social rather than financial objective. Prototype: In Yunus’ book Creating a World without Poverty—Social Business and the Future of Capitalism, two different types of social businesses are......

Words: 11062 - Pages: 45

Free Essay

The Zeitgeist Movement

...represents and what The Zeitgeist Movement hence condones, could be summarized as: ‘The application of The Scientific Method for social concern.’ Through the humane application of Science and Technology to social design and decision-making, we have the means to transform our tribalistic, scarcity driven, corruption filled environment into something exceedingly more organized, balanced, humane, sustainable and productive. To do so, we have to understand who we are, where we are, what we have, what we want, and how we are going to obtain our goals. Given the current state of affairs, many of which will be addressed in the first part of this book, the reader should find that we not only need to move in another direction…we have to. The current economic system is falling apart at an accelerating rate, with the prospect of worldwide unemployment occurring on the largest scale ever seen. Simultaneously, we are courting the “point of no return” in regard to the destruction of the environment. Our current methods of social conduct have proven to have no chance in resolving the problems of environmental destruction, human conflict, poverty, corruption and any other issue that reduces the...

Words: 35574 - Pages: 143

Premium Essay

Mount Fuji

...Employers, job seekers, and puzzle lovers everywhere delight in William Poundstone's HOW WOULD YOU MOVE MOUNT FUJI? "Combines how-to with be-smart for an audience of job seekers, interviewers, Wired-style cognitive science hobbyists, and the onlooking curious. . . . How Would You Move Mount Fuji? gallops down entertaining sidepaths about the history of intelligence testing, the origins of Silicon Valley, and the brain-jockey heroics of Microsoft culture." — Michael Erard, Austin Chronicle "A charming Trojan Horse of a book While this slim book is ostensibly a guide to cracking the cult of the puzzle in Microsoft's hiring practices, Poundstone manages to sneak in a wealth of material on the crucial issue of how to hire in today's knowledge-based economy. How Would You Move Mount Fuji? delivers on the promise of revealing the tricks to Microsoft's notorious hiring challenges. But, more important, Poundstone, an accomplished science journalist, shows how puzzles can — and cannot — identify the potential stars of a competitive company.... Poundstone gives smart advice to candidates on how to 'pass' the puzzle game.... Of course, let's not forget the real fun of the book: the puzzles themselves." — Tom Ehrenfeld, Boston Globe "A dead-serious book about recruiting practices and abstract reasoning — presented as a puzzle game.... Very, very valuable to some job applicants — the concepts being more important than the answers. It would have usefulness as well to interviewers......

Words: 78201 - Pages: 313

Free Essay


...definition of nihilism could then well be the rejection of that which requires faith for salvation or actualization and would span to include anything from theology to secular ideology. Within nihilism faith and similar values are discarded because they've no absolute, objective substance, they are invalid serving only as yet another exploitable lie never producing any strategically beneficial outcome. Faith is an imperative hazard to group and individual because it compels suspension of reason, critical analysis and common sense. Faith is "don't let those pesky facts get in the way of our political plan or our mystically ordained path to heaven"; faith is "do what I tell you because I said so". All things that can't be disproved need faith, utopia needs faith, idealism needs faith, and spiritual salvation needs faith. Fuck faith. The second element nihilism rejects is the belief in final purpose, that the universe is built upon non-random events and that everything is structured towards an eventual conclusive revelation. This is called teleology and it's the fatal flaw plaguing the whole rainbow of false solutions from Marxism to Buddhism and everything in between. Teleology compels obedience towards the fulfillment of "destiny" or "progress" or similar such grandiose goals. Teleology is used by despots and utopian dreamer wankers alike as a coercive motivation leading only to yet another apocryphal apocalypse; the real way to lead humanity by the nose - tell them it's all......

Words: 28720 - Pages: 115

Premium Essay

Inventory Management

...WRITERS 1. MICHAEL K. CHIRCHIR 2. JOASH N. MAGETO DPS 302 INVENTORY MANAGEMENT A. COURSE OBJECTIVES At the end of this course you will be able to:- • Comprehend the importance of inventory management in an organisation and gain a broad understanding of how inventory management fits into the broader function of supply chain management. • Explain three broad areas of inventory management, namely; demand forecasting, inventory models and warehousing. • Apply inventory control models in day to day business management. B. COURSE CONTENTS LECTURE 1: INTRODUCTION TO INVENTORY MANAGEMENT 1. Introduction 2. Objectives 3. The Concepts of Inventory and Inventory Management 4. Need for Inventory 5. Importance of Inventory Management 6. Scope of Inventory Management 7. Inventory Costs 8. Summary 9. References LECTURE 2: INVENTORY CONTROL SYSTEMS 2.1 Introduction 2.2 objectives 2.3 Fixed Quantity System 2.31 Advantages 2.32 Disadvantages 2.4 Fixed Time System 2.41 Advantages 2.42 Disadvantages 2.5 Hybrid Systems 2.6 Summary LECTURE 3: DEMAND FORECASTING I 3.1 Introduction 3.2 objectives 3.3 meaning of demand forecasting 3.4 Qualitative Judgmental Techniques 3.31 Delphi Method 3.32 Market Survey 3.33 Historical Analogy 3.5 Quantitative methods 3.51 Causal Methods High-Low Method Advantages Disadvantages Visual Fit Method Advantages Disadvantages Simple Regression Analysis Derivation of......

Words: 31485 - Pages: 126

Premium Essay


...Era OVERVIEW This chapter provides a backdrop to the entire book. The end of the Cold War is usually seen as the beginning of the contemporary era in world politics which is the subject matter of this book. It is, therefore, appropriate that we begin the story with a discussion of the Cold War. The chapter shows how the dominance of two superpowers, the United States of America and the Soviet Union, was central to the Cold War. It tracks the various arenas of the Cold War in different parts of the world. The chapter views the NonAligned Movement (NAM) as a challenge to the dominance of the two superpowers and describes the attempts by the non-aligned countries to establish a New International Economic Order (NIEO) as a means of attaining economic development and political independence. It concludes with an assessment of India’s role in NAM and asks how successful the policy of nonalignment has been in protecting India’s interests. The end of the Second World War led to the rise of two major centres of power. The two pictures above symbolise the victory of the US and the USSR in the Second World War. 1. American soldiers raising the US flag during the Battle of Iwo Jima, Japan, on 23 February 1945 Credit: Raising the Flag on Iwo Jima, Photograph by Joe Rosenthal/The Associated Press 2. Soviet soldiers raising the USSR flag on the...

Words: 52386 - Pages: 210

Premium Essay


...1 Learn that economics is about the allocation of scarce resources Examine some of the tradeof fs that people face Learn the meaning of oppor tunity cost See how to use marginal reasoning when making decisions TEN OF PRINCIPLES ECONOMICS Discuss how incentives af fect people’s behavior The word economy comes from the Greek word for “one who manages a household.” At first, this origin might seem peculiar. But, in fact, households and economies have much in common. A household faces many decisions. It must decide which members of the household do which tasks and what each member gets in return: Who cooks dinner? Who does the laundry? Who gets the extra dessert at dinner? Who gets to choose what TV show to watch? In short, the household must allocate its scarce resources among its various members, taking into account each member’s abilities, efforts, and desires. Like a household, a society faces many decisions. A society must decide what jobs will be done and who will do them. It needs some people to grow food, other people to make clothing, and still others to design computer software. Once society has allocated people (as well as land, buildings, and machines) to various jobs, 3 Consider why trade among people or nations can be good for everyone Discuss why markets are a good, but not per fect, way to allocate resources Learn what determines some trends in the overall economy 1 TLFeBOOK 2 4 Ten Principles of Economics PA R T O......

Words: 235775 - Pages: 944

Premium Essay

Mba Assignments

...Títol : Zara and Benetton: Comparison of two business models Volum: I de I Alumne:Amalia Paola Palladino Director/Ponent:Jose M. Cabré Garcia Departament:Organización de Empresas (OE) Data: 28 Junio 2010 Data:28 June 2010 DADES DEL PROJECTE Títol del Projecte: Zara and Benetton : Comparison of two business models Nom de l'estudiant:Amalia Paola Palladino Titulació:Ingenieria Superior Infomatica Crèdits:37,5 Director/Ponent: Jose M. Cabré Garcia Departament:Organizazión de empresas (OE) MEMBRES DEL TRIBUNAL President:Ferran Sabate Garriga,Toma de decisiones y gestión de proyectos empresariales(PDGPE) Vocal:Francesc Tiñena Salvañà, Compresion de datos e imagen (CDI) Secretari:Jose M. Cabré Garcia, Empresa y Entorno Economico (EEE) QUALIFICACIÓ Qualificació numèrica: Qualificació descriptiva: Data: AKNOWLEDGEMENTS First of all, I would like to thank Spanish professor Jose Cabré Garcia and Italian professor Massimo Visconti, my supervisors during the dissertation, for their helpfulness. Their academic and personal help was precious throughout this difficult task; Next, I would like to take this opportunity to thank the people who generously spent time to enable me to complete successfully my dissertation with the best possible result: My family, who has supported me amazingly all these years, both financially and psychologically. Their love and support kept me going in difficult times. My boyfriend Tomasz for his patience and moral support during my......

Words: 40786 - Pages: 164