Tag: consumer

If automation is the future, what comes next?

If automation is the future, what comes next?

Tanner Mirrlees Instead of hiring workers, many companies are employing new technology. No job seems safe from automation.

The factories of the world are filled with gigantic robotic arms programmed to put together everything from BMV luxury automobiles to Apple iPhones. Assembly lines are working with fewer blue collars.

Distribution warehouses, like those run by Amazon.com, employ robotic dollies to fill and carry shelves of books and beauty accessories to the small human workforce that packs these goods into the boxes mailed to our doors.Customer service is being designed away by user-friendly interfaces that shift tasks once done by paid workers […]

The Enemies of Economic Independence

The founders sought more than political independence from Europe. They also sought to secure America’s economic independence. To that end, the second bill enacted by the first Congress was the Tariff Act of 1789 , the stated purpose of which was "the encouragement and protection of manufactures." The end result of America’s reliance on the tariff was both prosperity and economic independence, as American manufacturing became the envy of the world and Americans ended up relying on fellow Americans for most of the goods they purchased. This happy situation was brought to an end by our elites’ fatuous embrace […]

Robots are responsible for low wages, Trump and the Brexit

Robots are responsible for low wages, Trump and the Brexit

For decades, economic textbooks have highlighted the golden relationship between productivity and wages. As workers are able to produce more, employees reap the gains in the form of higher wages.

But this is no longer the case. View gallery . Wages and productivity climbed in lockstep between 1950 and 1980. However, there is a striking divergence between the 1980s and today. Even with the unemployment rate near multi-decade lows, Federal Reserve Chair Janet Yellen highlighted concerns about the lack of wage growth and underemployment during her speech at Harvard last month.

“We’re close to an unemployment rate that I think most […]

How tech is reshaping work values and goals

How tech is reshaping work values and goals

Companies can find talent. They just can’t attract it. Fifteen years ago, corporate was king, and bigger was better. Companies such as Bank of America , Qualcomm , Cisco Systems , Intel , Sun Microsystems and Merck were top companies desired for employment. That mindset has evaporated. Today Stryker , Baptist Health South Florida , Workday and Genentech are among the 100 best companies to work for, according to Fortune Magazine .

Small is beautiful

Worker preferences are changing. It’s no longer good enough to tout social responsibility and entice talent with the sparkle of high earnings. Employees want […]

Universal Basic Income

Universal Basic Income

Universal Basic Income by Independent Trader

It wasn’t long time ago when Swiss had a referendum about universal basic income (UBI). They rejected it. The initiators of the campaign for UBI wanted a minimum salary to be paid to everyone regardless of their age, occupation or level of income. The UBI was aimed to replace pensions and benefits thanks to which numbers of bureaucrats would decrease. One argument for such a change is advancing automation and the end goal is to disconnect salary from work.

The Swiss economy is one of the most efficient economies in the world. Robotised manufacturing […]

Interview: Top US Labor Official Talks Job Creation, TPP

Interview: Top US Labor Official Talks Job Creation, TPP

ObamaFILE – Deputy Labor Secretary Christopher P. Lu speaks at Bladensburg High School in Bladensburg, Md., April 7, 2014 In the midst of a presidential campaign season where sustained economic recovery, job creation and trade have returned to the fore, Deputy Secretary of Labor Christopher Lu talked with VOA’s Adrianna Zhang about the Trans-Pacific Partnership and outlook on job creation efforts. Lu said more needs to be done despite recent gains.

VOA : Job creation has been a central talking point throughout the 2016 presidential campaign. Can you talk a bit about what your department has been doing to […]

Re-educating Rita

Re-educating Rita

IN JULY 2011 Sebastian Thrun, who among other things is a professor at Stanford, posted a short video on YouTube, announcing that he and a colleague, Peter Norvig, were making their “Introduction to Artificial Intelligence” course available free online. By the time the course began in October, 160,000 people in 190 countries had signed up for it. At the same time Andrew Ng, also a Stanford professor, made one of his courses, on machine learning, available free online, for which 100,000 people enrolled. Both courses ran for ten weeks. Mr Thrun’s was completed by 23,000 people; Mr Ng’s by […]

Will new technologies put us out of work? A peek into the future

Will new technologies put us out of work? A peek into the future

Over the past year, questions about how emerging technologies will impact employment have taken on a new tenor. Will robots take over our jobs? One thing is indisputable: automation and artificial intelligence (AI) will displace workers in the IT and business process outsourcing services industry.

But this is not a new trend.

+ Also on Network World: The 6 hottest new jobs in IT + Such tectonic shifts have occurred every few decades over the last two centuries. With each wave of new technology and each accompanying paradigm shift, jobs have disappeared. During the Industrial Revolution, people feared the loss […]

Fast-Food Leaders Play Down Minimum Wage During Automation Tests

Fast-Food Leaders Play Down Minimum Wage During Automation Tests

McDonald’s automated kiosk (REUTERS/Rick Wilking) McDonald’s and Wendy’s are denying a move to test self-service kiosks is connected to a growing movement to raise the minimum wage.

Economists warned increasing the minimum wage is likely to lead to less job opportunities for low-skilled workers. Fast-food and retail establishments have already started using computers and robots to replace low-skilled jobs. McDonald’s and Wendy’s are disputing Tuesday that self-serving computer tests are connected to the minimum wage push.

“An assumption that their use is related to wage or staffing levels is not the case at McDonald’s,” McDonald’s spokeswoman Lisa McComb said. “Staff perform […]

Where have all the good jobs gone?

Where have all the good jobs gone?

The good jobs are disappearing. Those that predated the digital revolution are dropping away altogether or being replaced by low-paying service jobs and other less secure employment. These include part-time jobs, freelance contracting and gig opportunities. The number of Americans working under these arrangements rose by 9.4 million from 2005 to 2015; 48 million Americans are now in low paying jobs.

This growing job shift is transformational. For employers, it offers new efficiencies and greater flexibility. Workers are cheaper and fewer can demand benefits. Employers can staff-up as needed; workers take the risks.

Momentous technological advances exert a steady and downward […]