Sir, – Technology has transformed economic activity in the last two decades or so. The balance of supply and demand has been reversed; supply exceeds demand rendering economic growth unnecessary and impossible, yet all recovery strategy is based on restoring growth. It was such a strategy of throwing money at growth that gave rise to unmanageable debt; growth cannot occur when growth is not needed and overproduction capability ensures growth is no longer needed.
Overproduction capability has been achieved by elimination of dependence on human labour, the elimination of work. To prevent social collapse job numbers must be restored; employment must be generated from less work but all policies are aimed at having those employed work harder, more efficiently, longer and into old age. Such policies only ensure fewer people will ever work. In future we will have more people working less or fewer people working more.
Attempts to have the impact of modern technology introduced into economic discussion have met a surprisingly hostile reaction, especially in broadcasting. Government departments, politicians and economists have simply refused to enter into any discussion on the subject as if by ignoring the possibility it might go away.
It will not go away; impending unemployment due to work elimination by advancing technology is a reality of the 21st century and the greatest social problem to be confronted. The only possible solution is more employment generated from less work. Shorter hours, longer holidays and earlier retirement must be considered.
I challenge the political, economic and media establishment to acknowledge the crisis of work elimination and enter debate on how to create more jobs from less work. – Yours, etc,
PADRAIC NEARY,
Tubbercurry,
Co Sligo.