I keep thinking about how the economy will look over the next 50 years. Within 50 years, I expect that most of the jobs of today would be taken over by robots. Robots and artificial intelligence are without a doubt the industry sector that will see the largest growth in the economy over the next several decades. There will be the robot makers that will make tons of money. But on top of that, there will be companies that will exist which buy robots and use/sell their labor. Training the robots will be a big sector too in the economy.
I suspect as we approach technological singularity we will see deflation. Labor prices will start obeying Moore’s Law once we have robots that are as intelligent as humans and cheap. Energy prices will also be deflated because of alternatives. I believe some of the pressure on oil is the fact that now solar power is nearly as cheap(or even cheaper in some markets) than oil. Why would people use fossil fuels if they can get the energy for the same price(or cheaper) from the sun? Energy prices will follow Moore’s law eventually.
A lot has been happening this past month. I believe the mistakes of using too much leverage have put me behind by a year. At least I learned a lot and the chances of failing in the future will be a lot lower.