IMF Blames Fall of Middle Class on Globalization and Technology http://www.nakedcapitalism.com/2017...le-class-on-globalization-and-technology.html
Wow! We got to the point where she asked, Do you think it is normal to not really be talking about me. True or false?
The article states the expected time frame for the bulk of these changes will occur within 10 - 20 years and mostly affect lower level/lower wage jobs. I think they are missing the boat and severely underestimating the rapid changes taking place in the fields of automation and AI. I think the time frame will be accelerated to be half their estimate at 5 - 10 years to see a significant turnover. As for job skill levels affected, it will cut across all levels. There are robots today performing complex surgeries that doctors thought could only be done by a human. Hedge fund and portfolio managers are losing clients left and right to robo-index trackers. The cushy top HF jobs that paid 2% and 20% are shrinking fast as money flows out. Automation is also now being incorporated into engineering, law, journalism, etc... I think it's only a matter of time before AI rises to automating software development and there go most of the jobs at the majority of tech hubs. Governments likely have no clue as to how they will handle such widespread jobs displacement.
Which occurs because robots, even though ares millions of times more contextually inept than humans, are now more efficient than most workers. And that's the cost of perfection, if you're not on the inventor/explorer side you become the caretaker of stupidity.
However, the national policies in an automation/knowledge economy would be still decided/designed by the politicians whose majority would be decisively determined/elected by the same majority states engaged in farming industry that employ only relatively small and shrinking number of farmers, representing nearly 1% of job market nowadays, comparing to nearly 50% +150 years ago. Is that true? And reasonable/rational? ! Composition of U.S. Job Market over the Last 150+ Years
I don't dispute the facts stated in the article (there aren't really all that many) but its conclusions surprise me. It seems to me that actually the long history of automation in various industries has generally tended not to decrease the number of jobs at all, as it creates as many as it makes redundant. They're just different jobs.
%% I think i will respectfully dispute that.You seemed to note, that for example IOWA has nowhere near the farm workers[true]. So far, so good; but ALL of the 50 states still have 2 US Senators, reguardless of population .Then the Aussie article writer seems so upset they ignored the stock market/capital opportunities+played the blame game on wages/wrong.