Post-COVID Economy May Have More Robots, Fewer Jobs and Intensified Surveillance

post-covid-economy-may-have-more-robots,-fewer-jobs-and-intensified-surveillance

19-06-20 01:53:00,

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Post-COVID Economy May Have More Robots, Fewer Jobs and Intensified Surveillance

Despair and Disparity: The Uneven Burdens of COVID-19

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Despair and Disparity: The Uneven Burdens of COVID-19

Spurred on by the coronavirus pandemic, global capitalism is on the brink of a new round of worldwide restructuring based on a much greater digitalization of the entire global economy and society. This restructuring began in the wake of the 2008 Great Recession but the changing social and economic conditions brought about by the pandemic will vastly accelerate the process. It is likely to heighten the concentration of capital worldwide and worsen social inequality. Enabled by digital applications, the ruling groups — unless they are pushed to change course by mass pressure from below — will turn to ratcheting up the global police state to contain the coming social upheavals.

The emerging post-pandemic capitalist paradigm is based on a digitalization and application of so-called fourth industrial revolution technologies. This new wave of technological development is made possible by a more advanced information technology. Led by artificial intelligence (AI) and the collection, processing and analysis of immense amounts of data (“big data”), the emerging technologies include machine learning, automation and robotics, nano- and biotechnology, the Internet of Things (IoT), quantum and cloud computing, 3D printing, new forms of energy storage and autonomous vehicles, among others.

Computer and information technology (CIT), first introduced in the 1980s, provided the original basis for globalization. It allowed the emerging transnational capitalist class, or TCC, to coordinate and synchronize global production and therefore to put into place a globally integrated production and financial system into which every country has become incorporated. Just as the original introduction of CIT and the internet in the late 20th century profoundly transformed world capitalism,

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