Industrial revolutions throughout history play out like this: repetitive and mundane jobs are automated by new technology, livelihoods evaporate, skills become obsolete, and in the process humans are compelled to retrain and find new work. Whether it’s textile workers or checkout assistants, lamplighters or petrol-pump attendants, automation shows little mercy.
In the early-19th century, during the first industrial revolution, traditional jobs dried up, the labour share of income fell, while corporate profits surged, and the gap between the wages of the rich and poor skyrocketed. Today, we could be doing the time warp again as the third and fourth industrial […]
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