There has been a series of articles in the media on the issue of robots and automation becoming much more sophisticated. Some of the articles claim this could lead to many jobs disappearing. I have recently started a new job for an insurance company. In the first month we were told by management that they are looking to automate certain tasks. They of course told us everything would be fine, but I’m not an idiot — that is going to mean jobs.
My question to Socialist Review is will automation and robots lead to massive job losses? As I understand it fully automated, robotised capitalism would not function as the rate of profit would plummet. Surplus value only comes from living labour. Could we have an article on this issue?
Tim Knight-Hughes, Norwich