A paper by MIT’s David Autor and Utrecht University’s Anna Salomons determined that overall automation created more jobs than it destroys over 47 years of data from 28 industries in 19 countries. This will likely be the case in the future as well, but it will be tough for people to scramble for the new work. The new work will also likely pay somewhat less.
The future of work will see both faster growth and more rapid decline. Areas will be exploding with new opportunity or rapid implosion and job death.
Protection for workers and jobs is likely to be short-term and mostly ineffective
There will be more automation in the future.
It would be good if there was an effective policy to address the imbalance. However, there has been limited effective social safety nets in the past.
Stronger social safety nets in European countries have often led to higher unemployment levels.
Policies that try to shield the citizens of a country have often resulted in weaker national economies.
Run Faster aka Hustle
There is a lot of talk about Universal Basic Income. This is a strategy of begging and/or demanding handouts.
It is fine to try to spend some time on this. However, it is best to assume this will fail, since it usually has failed.
You don’t have to run faster than the bear to get away. You just have to run faster than the guy next to you.
Teaching, nursing and other growth careers
Everyone knows there are hot jobs and new up and coming areas. If you cannot get into the hot areas then at least get out of the cross-hairs of automation waves that will crush industries and companies within five to ten years. If you choose to stay in the cross-hairs then plan your finances to know that you are doing a temporary job and getting salary which will not last.
Growing occupations will be in tough to automate activities such as managers and those in unpredictable physical environments such as plumbers. There should still be increasing demand for teachers, nursing aides, and tech and other professionals.
the past will repeat or at least rhyme with the
Overall things have gotten better and their will be more overall in the future. However, things being easy and fair are not part of the prediction.
Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. His blog Nextbigfuture.com is ranked #1 Science News Blog. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology.
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Free market and economically based safety net can enhance each other. It has been shown lately by the Nordic countries and the Netherlands. Creating an economic policy that incentivizes lower income people with tax cuts and increasing minimum wage, moving them out of poverty to the low middle class, along with incentivizing automation and competition has been shown to propel economic growth.
Free market and economically based safety net can enhance each other. It has been shown lately by the Nordic countries and the Netherlands. Creating an economic policy that incentivizes lower income people with tax cuts and increasing minimum wage moving them out of poverty to the low middle class along with incentivizing automation and competition has been shown to propel economic growth.
No kidding. If I was in the top .1%, i’d be begging the government to implement a universal basic income. it is unbelievably short-sighted of billionaires to strenuously protest against social programs and not learn from history. Hell, they don’t even need to go to history to see the hell that they tempting, they only need to look at colombia, argentina, nicaragua.
No kidding.If I was in the top .1{22800fc54956079738b58e74e4dcd846757aa319aad70fcf90c97a58f3119a12} i’d be begging the government to implement a universal basic income. it is unbelievably short-sighted of billionaires to strenuously protest against social programs and not learn from history. Hell they don’t even need to go to history to see the hell that they tempting they only need to look at colombia argentina nicaragua.
and increasing minimum wage” Cheap foreign labor doesn’t help. Amazing that in the US there’s talk about raising the minimum wage through the roof, but at the same time there’s a massive influx of unskilled labor. And it’s a fertile population yielding much more of the same low-skilled individuals. So you have the cheap foreign labor depressing wages, but then there’s a mandate for high wages! An absurdity. If you’re going to require high wages then don’t flood the country with unskilled labor.
and increasing minimum wage””Cheap foreign labor doesn’t help. Amazing that in the US there’s talk about raising the minimum wage through the roof”” but at the same time there’s a massive influx of unskilled labor. And it’s a fertile population yielding much more of the same low-skilled individuals. So you have the cheap foreign labor depressing wages”” but then there’s a mandate for high wages! An absurdity. If you’re going to require high wages then don’t flood the country with unskilled labor.”””
I’m confused – can anyone explain how UBI fits under “Run Faster, AKA Hustle”? We should consider an extremely minimal UBI – a bare survival level, like maybe $70/week for all adults. (Others have already shown how a higher UBI could be paid for, so I won’t go into funding.) Mainly this helps those who fall through the cracks (e.g. homeless) and gives people confidence that at worst they won’t starve.
I’m confused – can anyone explain how UBI fits under Run Faster” AKA Hustle””?We should consider an extremely minimal UBI – a bare survival level”” like maybe $70/week for all adults. (Others have already shown how a higher UBI could be paid for”” so I won’t go into funding.) Mainly this helps those who fall through the cracks (e.g. homeless) and gives people confidence that at worst they won’t starve.”””
I’m confused – can anyone explain how UBI fits under “Run Faster, AKA Hustle”?
We should consider an extremely minimal UBI – a bare survival level, like maybe $70/week for all adults. (Others have already shown how a higher UBI could be paid for, so I won’t go into funding.) Mainly this helps those who fall through the cracks (e.g. homeless) and gives people confidence that at worst they won’t starve.
“and increasing minimum wage”
Cheap foreign labor doesn’t help. Amazing that in the US there’s talk about raising the minimum wage through the roof, but at the same time there’s a massive influx of unskilled labor. And it’s a fertile population yielding much more of the same low-skilled individuals.
So you have the cheap foreign labor depressing wages, but then there’s a mandate for high wages! An absurdity. If you’re going to require high wages then don’t flood the country with unskilled labor.
No kidding.
If I was in the top .1%, i’d be begging the government to implement a universal basic income. it is unbelievably short-sighted of billionaires to strenuously protest against social programs and not learn from history.
Hell, they don’t even need to go to history to see the hell that they tempting, they only need to look at colombia, argentina, nicaragua.
Free market and economically based safety net can enhance each other. It has been shown lately by the Nordic countries and the Netherlands. Creating an economic policy that incentivizes lower income people with tax cuts and increasing minimum wage, moving them out of poverty to the low middle class, along with incentivizing automation and competition has been shown to propel economic growth.