He argues that we may need new institutions, such as insurance against job obsolescence:
I believe that humans are creative enough to come with the new institutions necessary to adapt to a changing world. What I fear is that we will not be allowed to do so. We do not live in an ideal free market, where we can choose whether or not to belong to any particular institution. Instead, we live in a mixed society where we are free to choose whether to belong to some institutions but other institutions are either mandated or forbidden. We are not always free to experiment with new institutions to identify the best ways to organize society.
If humans are free to experiment with new institutions, I believe we will find an excellent solution. However, there is a great danger that those who benefit from the status quo will use their influence to prevent the adoption of new institutions. Further, others will attempt to force institutions they think best on other people, leading to great suffering. The great danger we face is the danger of not being free enough to adapt to new and changing circumstances. More.
See also: Do technologies change cultures or were the changes inevitable anyway?
and
Winston Ewert’s dependency graph model of the relationship of life forms
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