With more and more complexity (in society, economy, macro-economy, micro-economy, business sector, technology, or simply the amount of mathematical, software, programming solving skills that are being required now-a-days, and the trend is upwards continuously without any interruption in sight, economics profession is becoming more and more "difficult" to survive (because of this high skill requirements), some may argue. Gone are the good old days of simple economic intuitions, or logic or discussion!
Again, one common notion is, artificial intelligence (i.e., robots), is taking over many of the jobs. A highly advanced robot can simply replace an economist within some near future time, or make the economist feel as if "redundant".
I am just wondering, what are you thinking about this issue?
(anybody please join in, I asked as an economist, but this may apply to some other disciplines as well).
Thank you, Mr Emre Pakdemirli. I also think the profession is heading towards that direction.
I believe that the professional economy has a leading role in the coming years, especially in developed countries.
My answer might be a bit 'general' as I am not an economist. However, I do use a computer and I make the following observations. 1) computers are good at storing data elements and rapidly retrieving them and 2) computers can be used to combine data elements into new 'views' as imaginative people think of new ways to look at the data. However, a fundamental key to any science is interpretation. While, computers may be programmed to 'synthesize' information, they can not, yet, interpret information reliably enough. This last step may be the most important step in the entire process of using information, it is particularly prone to error and will always, I think, require the work of humans.
Thank you, Dr Michael Theobald. Very logical explanation, indeed.
I think the economy is growing and China's economy will be the leader in the coming years.
Yes, Dear Dr. Afraa Ibrahim.
As you pointed out, one additional issue regarding economics profession (and, for that matter, most of the disciplines) is within 40 years' time, the United States, Canada and the European continent may have to give up roles as leaders of economics (and other disciplines), since China, Japan and other Asian countries will become actually the most important economies, and as such, China is likely to take leadership role in economics disciplines (university, research, international trade policy, economic policy influence, etc.). This is expected to be a major change within economics discipline, I think.
I think the future of humanity is to change the economic paradigma . With the technologie advance we are seeing, the money market is getting obsolete. And a resource based economy is what future society will lean to. The force of production is now into automatization, no need for human work anymore.
I do not believe that a replacement for currency will occur in the near future. A particular strength of currency is that it has the backing of government. Strong government and strong currency can give people faith that they can be compensated fairly for the work they do. In addition, it gives people faith that the compensation they receive will have value in the market place.
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