Wednesday, August 13, 2014

Robot Watch





The world is becoming more and more automated - with fewer and fewer good-paying jobs. The trend is likely to continue.

Articles:
Related:
Economists tell us that while technology displaces jobs, it also creates jobs, right? Economists also tell us people are rational, LOL. If you want to understand the real world, the first thing to do is ignore economists, or use them as a negative-indicator.

The pace of displacement has been (and is) accelerating to the point where job creation is not keeping up with job destruction.

And the compensation of the created jobs has been much less than the compensation of the displaced jobs. Goodbye manufacturing job that used to pay a decent living, hello minimum wage job at Wal-Mart.