26th August 2013
The industrial age is over. The robotic age is upon us.
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The last 250 years were the industrial age. The next million years will be the robotic age.
I'm speaking an economist now, not as a student of science. There is a fundamental restructuring of the economy underway as we speak.
Of course, countries like India have now missed the bus. I don't see ANY chance of India's catching up with the West in the future.
a) Its political parties are socialist or busy fighting on grounds of religion.
b) Its 'educated' people have no interest in creating a classical liberal party. The policy "window" for India is now shut (barring a miracle).
c) Its governance cannot change – given its entrenched bad policies. It will only worsen and get more corrupt, leading to more unrest and violence.
d) Its average national IQ is 85 and shows no sign of improving given its policies and refusal of the "upper" castes to eliminate caste. This low IQ leads to the inability of most of its population to grasp basic concepts.
e) The manufacturing world is moving rapidly to robotics and there will no longer be a comparative advantage in cheap labour available to India. That window is now shut. Industry is rapidly moving back to the West.