If Technology is continue to disrupt all industries and reduce drastically human dependency then what will happen to jobs?. For next 20-30 years people most people may still be able to have full time or part time jobs. It won’t be easy but with some struggle people will manage. Many will have to re-skill and move to new areas or change industries, etc. The question is after 30-40 yrs what will happen?
This is more applicable for next and future generations. If the population is going to continue with the current rate and technology is going to exponentially change then for sure there will not be a full time job for every one to do. And also, economies will move from pyramid structure to diamond structure. That means most people (almost 80-85%) will be in the middle class and very few at the top (these people mostly will hold majority of wealth) and few at bottom at poor level. This is already happening if you look at the businesses. There is only one Google, one Amazon, One Uber, One Facebook, etc. There are not much 2nd,3rd and 4th players.
So eventually governments will have to intervene to re-structure the economic model and start providing the basic living for the people who do not have jobs. This is already there in some countries but very low percent. But this will increase very much in the coming decades.
Don’t believe this?. Already some countries like Canada are piloting this concept. This concept is called UBI (Universal Basic Income). Go and search on google and you will realize.
With cost of living expected to go down, not much of full time jobs and UBI gift, may be people will have more free time and fun. Lets wish good life for next generation.