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51% of all job tasks can be handled by today’s automation

So says the article below.

I find this part interesting:
The future the McKinsey report suggests isn’t the alarmist dystopia of permanent mass unemployment. Instead, it suggests that people who enter the workforce, or can adapt to it, after this jerk forward will face a starkly unsaturated job market. The demand for labor, it says, will be far greater than the supply many developed countries will be able to provide if they want to hit their GDP growth aspirations.
I do think its premature to say everyone is going to get laid off and replaced by […]

Why Elon Musk Thinks Universal Basic Income Is Inevitable

Why Elon Musk Thinks Universal Basic Income Is Inevitable

Paul Ratner in Big Think : ScreenHunter_2536 Jan. 24 20.48 Jobs were a big topic in the 2016 Presidential election in the United States and continues to be a hot-button issue. The loss of manufacturing jobs in the Rust Belt states was largely responsible for propelling Donald Trump to a surprise win. As President-elect, Trump has continued to push the jobs message, making deals like his recent involvement in the fate of Indiana’s Carrier plant to show that he will bring jobs back to regions with great job loss. Yet, regardless of such efforts, many futurists are predicting that […]

Basic Income Experiments Happening Around The World

Basic Income Experiments Happening Around The World

Image by Marc van der Chijs (License CC BY-SA 2.0) The idea of societies having a basic income has been gaining momentum for the past several years. Currently, there are several pilot projects of varying sizes going on around the world. Some of them in places you might not expect. Today, I’d like to walk you through some of the most interesting basic income pilots currently underway, and a couple that are still in the planning stages.

The Finland Basic Income Experiment

In December of 2016, Finland’s national government authorized a two year, basic income pilot project, giving […]

Guaranteed income: 5 things you need to know

Guaranteed income: 5 things you need to know

When Smiths Falls councillors voted late last year againstlobbying the provincial government to be considered for the upcoming guaranteed income pilot project, the decision set off a maelstrom in the struggling eastern Ontario town.

On Tuesday the debate moves to Ottawa where officials from the Ministry of Community and Social Services will hold a public consultation session about the pilot project they hope to launch later this year.

If you’re not familiar with the province’s plan to try out the concept of a guaranteed income, here are five things you should know. 1. What is a guaranteed basic income? It’s actually […]

From Holland to Finland to Scotland, Basic Income Could Be a Reality Across Europe

From Holland to Finland to Scotland, Basic Income Could Be a Reality Across Europe

Universal basic income is emerging as a realistic policy position across Europe. As we reported in late 2015, local authorities across the Netherlands are currently running trials to award every citizen unconditional money from the state. And this year, Finland started an experiment of 2,000 randomly selected people, all of whom currently receive out of work benefits.

The first monthly payments of €560 ($590) were paid into those people’s accounts within the last week, and the trial will examine the impact of that money on overall employment. Now, sweeping further to the west, plans are underway to establish basic income […]

No fiscal resources for universal basic income: Niti Aayog chief Arvind Panagariya

No fiscal resources for universal basic income: Niti Aayog chief Arvind Panagariya

Vice Chairman of Niti Aayog Arvind Panagariya NITI Aayog Vice Chairman Arvind Panagariya is of the firm view that the country simply does not have the necessary fiscal resources for a Universal Basic Income scheme, a proposal being advocated by Chief Economic Advisor Arvind Subramanian. Subramanian will delve upon the possibilities of such a scheme in the Economic Survey which, if accepted by the government, could be an unprecedented decision anywhere in the world.

In an interview to The Indian Express, Panagariya said, “At the current level of income and our needs for investment in health, education, infrastructure and defence, […]

French Socialists Flirt With Basic Income But Ignore Immigration Question

French Socialists Flirt With Basic Income But Ignore Immigration Question

"Mort Pour Rien" is French for "Black Lives Matter"–even if they’re trying to murder a gendarme. For some time, I’ve argued a Basic Income policy is all but inevitable as automation continues and an increasing share of the population becomes not just unemployed, but unemployable. Of course, as with every other major policy area from health care to education, immigration is the most important aspect of all this because no state can provide a subsidy for nothing to the entire world’s population without suffering complete social collapse. Still, the political movements which can come to terms with and think […]

Is 2017 the year of the universal basic income?

Is 2017 the year of the universal basic income?

Despite all the uncertainty of global politics and economics, a citizen’s income could help us Glaswegians regain some control in 2017.

In many ways 2016 was a bad year for progressives. Welfare cuts, unfair work conditions and food banks remained; attitudes hardened towards refugees and immigrants; and right wing populists won the vote over Brexit and the White House. But, behind all of this, 2016 was also a year in which those wanting a more economically just, open and equal world also made their mark.

In Glasgow, local people met in community halls to plan local currencies, held protests to force […]

Employment: IBM would have a dual speech in the United States

Employment: IBM would have a dual speech in the United States

IBM is embroiled with Donald Trump on employment, but continues to lay off and relocate at all costs. Here is the conclusion of a Bloomberg survey devoted to Big Blue and its circumvolutions on employment since the arrival of Donald Trump to the presidency of the United States.

On the one hand, IBM has decided to recruit 25,000 employees over 4 years, in the wake of Donald Trump’s desire to give more jobs to American citizens. Last November, IBM completed its third wave of dismissal of the year according to employees contacted by the agency. These sources quantify in […]

Why Anxiety Around Automation is Absurd

Why Anxiety Around Automation is Absurd

In his recent intriguing TED Talk , David Autor, Ford Professor of Economics and associate head of the MIT Department of Economics, identifies and explains the understanding of how technological advancement impacts employment – and how.

He generously shared with me the research paper that preceded this TED Talk. Here are my takes from how the intelligence from this research will apply to the accounting profession.

How Automation Impacts Employment and Types of Jobs Autor’s research points out that while automation does substitute for labor, it also complements labor and raises output in ways that lead to higher demand for […]