In response to my question, the governor suggested that replacement of workers by machinery has historically created more jobs which is true...but, there was no opportunity for a follow up question that might have directed the governor's attention to:
- Historical fact may have little significance for the future since we have never before produced machines with AI (artificial intelligence) with many humanoid features that allow state-of-the art computer/robotics to paint pictures, write software, poetry and music, understand and respond to the spoken word, have thinking and abstract analytic abilities to defeat the world's greatest chess champion, slaughter record setting jeopardy champs, diagnose medical conditions, design prescriptive drugs, fix disease causing DNA defects, design and "print" buildings, furnishings and tools, and accomplish any myriad of abstract tasks, etc. and with these abilities, do jobs now done by humans.
- When machines will do most of the work in perhaps 20-30 years at the present rate of change, what policy steps would he recommend to the government now in preparation for transition to a future world of little work. The governor's answer that history following the industrial revolution up until the 40's and 50's may have been quite accurate in that slow changing world but is less relevant in our far less predictable space-age rapidly changing world.
All interesting questions of the kind discussed on this site.LINKS TO "PRESS" RESULTING FROM THE GOVERNOR'S ADDRESS
Text of Governor's Address
Speech Summary - Oshawa This Week
Low Interest Rates Needed To Help Canada Grow--Reuters
Governor Warns Against Protectionism - Globe and Mail
"Dust-Off" of NAFTA Welcomed---CBC
GTA's Hot Housing Market Fuelled by Strong Economy But Growing Debt A Concern---CBC
Bank of Canada Governor Speeches
Stephen Poloz, Governor, Bank of Canada backgrounder