Tag: consumption

Will automation take away all our jobs? | David Autor

Will automation take away all our jobs? | David Autor

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Report Subtitle Errors Here’s a startling fact:
in the 45 years since the introduction of the automated teller machine,
those vending machines that dispense cash, the number of human bank tellers employed in the United States has roughly doubled, from about a quarter of a million to a half a million. A quarter of a million in 1970 to about a half a million today, with 100,000 added since the year 2000. These facts, revealed in a recent book by Boston University economist James Bessen, […]

In a crowd of truths, we can discern and reclaim what it means to be human

In a crowd of truths, we can discern and reclaim what it means to be human

This is the second of two responses to an excellent article by Antony Slumbers , the first being this perspective from my mirrored room , in this instance offering that his views offer a far too presumptive picture of how technology will shape our work future. The paragraph headlines are from Antony’s original article. One person’s optimism is another’s pessimism. A decade ago the dream of liberated commute-free teleworking was, to many, the nightmare of enforced seclusion to the soundtrack of the dishwasher. The deployment of robots for the performance of menial tasks creating time and wealth for leisure […]

If the robots are coming for our jobs, make sure they pay their taxes

If the robots are coming for our jobs, make sure they pay their taxes

The problem with the future is that it’s unknowable. But of course that doesn’t stop us trying to second-guess it. At the moment, many people – and not just in the tech industry – are wondering about the impact of automation on employment. And not just blue-collar employment – the kind of jobs that were eliminated in the early phase of automating car production, for instance – but also the white-collar jobs that hitherto seemed secure.

In a much-cited 2013 study , for example, economists David Autor of MIT and David Dorn of Spain’s CEMFI institute found that because computers […]

How do you tax a robot, Mr. Gates?

How do you tax a robot, Mr. Gates?

Bill Gates may favour a tax on robots that devour human jobs. But isn’t Microsoft too arguably a robot by that definition? | Flickr / Stephen Chin Luddites had humanity’s best interests at heart. So does Bill Gates. And with his statement urging taxation of robots to slow down pace of automation, he has proven himself to be a modern-day Luddite. His ideas on robots will, hopefully for the sake of humanity, meet with the same fate that Luddites’ did.

There is little doubt that automation will destroy jobs in sectors ranging from transport to finance . This is a […]

How The Coming Wave Of Job Automation Will Affect You And The US

How The Coming Wave Of Job Automation Will Affect You And The US

A passenger uses his biometric passport at an automated ePassport gate equiped with a facial recognition system at the British border of the Eurostar at the gare du Nord in Paris on February 17, 2017. / AFP / PHILIPPE LOPEZ/Getty Images We can see this trend when comparing companies across time. The most valuable US firm in 1964 was AT&T. Then, it was worth $267 billion (in 2016 dollars) and employed 758,611 people. Today, Google is worth $370 billion and has only 55,000 employees.

Many workers have already been replaced by machines, but the number is only set to rise.

A […]

Some surprising (to me) facts about plastics employment

Some surprising (to me) facts about plastics employment

I have a finger on the pulse of the plastics industry. I visit companies, talk to executives on the phone, meet them at conferences and shows. I also read tons of stories about them, written by our staff and others.

But once in a while I see something surprising about plastics processing. That’s happened twice in the past month. Maybe these snippets will surprise you, too.

The first came in our January podcast, which we call Plastics News Radio. Steve Toloken, our news editor-international, interviewed Bill Carteaux, president and CEO of the Plastics Industry Association.Carteaux has been in the plastics industry […]

Tyler Cowen: History says automation won’t be painless

Tyler Cowen: History says automation won't be painless

The Industrial Revolution initially cut wages by about 10%, according to estimates, and the transition lasted 60 to 70 years. The shift out of agricultural jobs aided humanity but it was bumpy, and increased automation probably will carry similar displacements.

"Why should it be different this time?" That’s the most common response when I raise concerns about automation and the future of jobs, and it’s a pretty simple rejoinder. The Western world managed the shift out of agricultural jobs into industry, and continued to see economic growth. So will not the jobs being displaced now by automation and artificial intelligence […]

Industrial revolution’s record brings no comfort

NEW YORK – “Why should it be different this time?” That’s the most common response I hear when I raise concerns about automation and the future of jobs, and it’s a pretty simple rejoinder. The Western world managed the shift out of agricultural jobs into industry, and continued to see economic growth. So will not the jobs being displaced now by automation and artificial intelligence lead to new jobs elsewhere in a broadly similar and beneficial manner? Will not the former truck drivers, displaced by self-driving vehicles, find work caring for the elderly or maybe fixing or programming the […]

The Error In Bill Gates’ Latest Odd Idea – Let’s Tax The Robots Stealing Our Jobs

Bill Gates has put forward an odd idea, that we should tax the production of those robots as they all come to steal our jobs. This is a bad idea, an error, we should do absolutely no thing. The error stemming from a misunderstanding of the production of value and what happens to it when produced.

It’s entirely true that Bill Gates is very much brighter than I am. That he is one of the world’s richest people and I an economic scribbler is not because my intellect outshines his. However, it is still true that we all have our […]

Industrial Revolution comparisons aren’t comforting as job cuts loom large

Industrial Revolution comparisons aren’t comforting as job cuts loom large

People at work in a factory, making vices in 1771. Photo: Getty Images/Hulton Archive “Why should it be different this time?” That’s the most common response I hear when I raise concerns about automation and the future of jobs, and it’s a pretty simple rejoinder. The Western world managed the shift out of agricultural jobs into industry, and continued to see economic growth. So will not the jobs being displaced now by automation and artificial intelligence lead to new jobs elsewhere in a broadly similar and beneficial manner? Will not the former truck drivers, displaced by self-driving vehicles, find […]