I love Elon Musk, but I think he fell into the Luddite fallacy trap and maybe he knows that… This fallacy is simply a belief that has developed over the years that technology is detrimental to human work. This is thought to lead to reliance on a universal basic income. However, history has shown that despite technological advancement, there has always been more work available.
The popularization of fear of artificial intelligence technology
Without a doubt, Elon Musk is one of the most well-known proponents of technology although he has also been a major figure in popularizing the Luddite fallacy. In an interview with CNBC in 2018, Musk said that artificial intelligence technology “can do just about anything better than any human being.” This has led to much speculation about the future of work and whether technology will eventually replace human workers.
However, while technology can do certain tasks better than humans, that doesn’t necessarily mean it will completely replace workers. Instead, technology tends to create new jobs and employment opportunities.
Elon Musk and the Luddite fallacy forget past industrial revolutions
When the steam engine was invented, many feared that it would replace workers in the textile industry. Instead, however, the steam engine allowed for greater production. On the other hand, it led to the creation of new jobs in the manufacturing industry.
Furthermore, as technology advances, the demand for skilled workers in fields like computer science and engineering also increases. Therefore, contrary to the luddite fallacy proclaimed by the respected Elon Musk, instead of replacing workers, technology tends to create new employment opportunities. In addition to, at the same time, increasing the demand for skilled workers.
In short, although Elon Musk and others have bought into the Luddite fallacy arguing that technology will lead to reliance on a universal wage, history has shown that there has always been more work available despite technological advancement. Instead of replacing workers, technology tends to create new job opportunities and increase the demand for skilled workers.