Historically, both markets and government policies have rewarded entrepreneurs, investors, and inventors for being more efficient with capital by reducing the costs of labor. And this approach has had huge social benefits. Increasingly efficient deployment of capital led to an abundance of goods and services that both increased human well-being and simultaneously created more opportunities for people to pursue a wider range of meaningful work.
But now that we’re reaching a point where it is technologically possible to remove greater numbers of human workers from the system, we should think about new ways to allocate rewards to capital that privilege the creation of meaningful human work. Moving forward, we must incent the entrepreneurs, investors, and inventors who create the businesses that lead to jobs in the right ways.
Read my full post at LinkedIn.