Phase quotes

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Edward_Emil_David

Competitive Rush

"Computing has one property, unique I think, that seriously aggravates the uncertainties associated with software efforts. In computing, the research, development, and production phases are often telescoped into one process. In the competitive rush to make available the latest techniques, such as on-line consoles served by time-shared computers, we strive to take great forward leaps across gulfs of unknown width and depth."

John_Maynard_Keynes

Technological Unemployment

“In our own lifetimes... we may be able to perform all the operations of agriculture, mining, and manufacture with a quarter of the human effort to which we have been accustomed. For the moment the very rapidity of these changes is hurting us and bringing difficult problems to solve... We are being afflicted with... technological unemployment. This means unemployment due to our discovery of means of economising the use of labour outrunning the pace at which we can find new uses for labour. But this is only a temporary phase of maladjustment... In the long run... mankind is solving its economic problem. I would predict that the standard of life in progressive countries one hundred years hence will be between four and eight times as high as it is today.”
  • Source: From the Essay “Economic Possibilities for our Grandchildren” written by John Maynard Keynes in 1930. Included in the book “Essays in Persuasion” edited by John Maynard Keynes and published by W. W. Norton & Company in 1963.