In the 70's pundits were repeating the refrain: "Computers are going to revolutionize human life. In the future people's biggest problem is going to be 'what are we going to do with all this leisure time that computers have created for us?'"
Does anyone else remember this?
At some point this meme quietly dropped out of existence. No one mentions it as a future promise, and no one explains why it never happened.
Yesterday I had an epiphany. I know what happened.
Computers did indeed create the potential for a huge amount of leisure time for large numbers of the (post-)industrial workforce. However, very smart people solved your problem - what you would do with this leisure time - for you. They did it by converting that time into liquid cash and accumulating it into their bank balance.
Time and money can be converted in an economy. That leisure time is there, it's just not evenly distributed among the workforce, and that's why Warren Buffet has $52 billion. It's the promised leisure time of the workers.
They didn't deserve it anyway...





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