My Theory about Experts and the Modern Economy

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I have this “strategic theory” (likely heavily influenced by others) about how the modern economy works and how it is likely to change in the future. 

Throughout various sectors of the working class, we find “experts.” Experts range in technical specifications, some are doctors, others are loan officers, and you also have everything across a wide spectrum (construction worker, software engineer, etc.). 

My theory is that experts, today, are unfairly compensated for doing unexpert tasks. 

For instance, doctors scribble down pages and pages of notes. I’d argue they are not uniquely good at this effort. Loan officers fill out dozens and dozens of pages of paperwork. 

These are not only non-expert tasks, given technological innovation, they will soon be seen as “non-human tasks.” We are not uniquely good at processing large amounts of data in our head or synthesizing trays of information. Though, computers are!

So what I see happening is more and more “experts” being repositioned and redefined. 

Essentially, we, as humans, will have to “lean in” to the activities that we are perhaps “uniquely qualified to do.”

We are great at relationship building. We are great at intuition. We are great at communication and explaining ideas. 

Optimistically, I believe that “freeing up the inhumane work” will make individuals more productive and happier. 

Doctors are not excited about taking notes. Loan officers hate paperwork. 

Now, I think there will be turmoil in job automation. I think this is a real problem that many people will have to deal with. 

But I also think that as we see this “correction” in the market – where experts will be forced to focus on real expert abilities (or fail) – the truth will come out. 

Imagine an API for every non-human task. I see that as where we are going.

Ironman suits for everyone. 

Also published on Medium.