Acquire as much capital as you can, presumably. If the share of economic growth for labor is falling, that of capital must be rising. The topic has come up before but I’m not sure anyone had more concrete advice than index funds—it’s tempting to try to invest in software or specific tech companies, except then you’re basically being a VC and it’s very hard to pick the winners.
You can train yourself in one of the industries you expect to thrive. This could either be the high-tech route of being the one programming and developing the machines, or it could be in a job that never goes away, like plumbing/carpentry/welding. All of which can earn 6 figures, it’s a matter of the type of work you like doing.
If I believe that automation causing mass unemployment is around the corner (10-20 years), what do I do or invest in now to prepare for it?
Acquire as much capital as you can, presumably. If the share of economic growth for labor is falling, that of capital must be rising. The topic has come up before but I’m not sure anyone had more concrete advice than index funds—it’s tempting to try to invest in software or specific tech companies, except then you’re basically being a VC and it’s very hard to pick the winners.
Or land.
You can train yourself in one of the industries you expect to thrive. This could either be the high-tech route of being the one programming and developing the machines, or it could be in a job that never goes away, like plumbing/carpentry/welding. All of which can earn 6 figures, it’s a matter of the type of work you like doing.
Move to a socialist country.