Tag: consumption

Buddhist Economics: Economics as if People Mattered

Buddhist Economics: Economics as if People Mattered

Economics Should Be About People, Not About Wall Street

By John Lawrence In Buddhist economics there is the concept of “right livelihood.” Work is considered an essential component of human life just as play and leisure. Work of a craftsmanlike nature, work which is satisfying–not work that is stultifying, of an assembly-line nature. Work that nourishes the soul; this kind of work results in right livelihood.

By the same token, there is “right consumption.” This is as contrasted with the unlimited consumption advanced Western societies and pushed on their citizens through advertising and other means in order to have […]

Automation predicted to cut workforce in half, but education could decide who stays

Automation predicted to cut workforce in half, but education could decide who stays

(1 of 2) Is automation your job friend or foe? (PIOTR DEBOWSKI / SHUTTERSTOCK) Do you see yourself partnering with robots to do your job? Many people already are finding that working with robots and other technologies has greatly improved their ability to do their jobs. For some, partnering with a robot partner has given them superpowers.

Take the case of a women with leukemia who wasn’t responding to treatment. To solve the mystery, doctors asked IBM’s Watson, a supercomputer loaded with artificial intelligence, to figure it out. In just 10 minutes, Watson diagnosed the right type of leukemia, which […]

In The Fourth Industrial Age Robots Are Out To Steal Your Jobs, Humans!

In The Fourth Industrial Age Robots Are Out To Steal Your Jobs, Humans!

Digital technology is galvanising a colossal change, influencing every aspect of our personal and professional lives. There is a global buzz about the beginning of a fourth industrial revolution with path-breaking developments in robotics, genetics, artificial intelligence and nanotechnology among many others. The impact of this mammoth change will be unlike anything that was seen before, creating newer avenues and patterns of employment, consumption and production.

Fear still looms large on whether the job disruptions caused by technology will be momentary as the workforce adapts, or will there be a scenario akin to a sci-fi script where robots and automated […]

A turning point in labour history

A turning point in labour history

The latest wave of automation heralds new transformations for society, but how can we ensure that nobody is left stranded? "The so-called sharing economy and the new wave of automation are appearing to rewrite the old rules." Cab drivers protest against Uber in Lisbon, 2016. Flickr/Stròlic Furlàn – Davide Gabino Follow. Some rights reserved. Several profound transformations are taking place in the world of labour at the same time. Aspects of a so-called sharing economy and the new wave of automation are appearing to rewrite old rules. The long-term consequences of this turning point depend on the policies adopted […]

Stuart Hall, Tyzack works out the future.

Stuart Hall, Tyzack works out the future.

The pace of technological change, shifting demographic patterns and economic globalisation are radically re-shaping the future of employment globally. This is something we have been witnessing since 2000, with the acceleration of a technological revolution, a radical transformation more comprehensive and more encompassing than anything we have seen before.

We are already experiencing the impact in staff reductions as a result of technology such as supermarket self-checkouts, ATM machines and robotics in the manufacturing sector, and whilst few doubt that the changes we’re experiencing hold great promise, the patterns of employment, production and consumption resulting from them are certainly creating […]

Research probes future of horticultural labour

Research probes future of horticultural labour

Farm workers: sectors reliant on EU migration will need to plan for reduction in labour availability after leaving EU – image: USDA The future role of labour in agriculture and horticulture is now very much up for grabs, according to two new policy reports published this month. Faced with a potential decrease in supply of low-skill migrant labour and the phased introduction of the National Living Wage (NLW), and with a high degree of "routineness" in its lower- skilled tasks, food and farming stands out as the sector of the economy most ripe for automation, according to Robot Wars: […]

Automation: Why It Will Be Different

Automation: Why It Will Be Different

In the early 1800s, most people were employed in agriculture. Gradually, agriculture went from employing most people to employing ~2% of the population. No mass unemployment resulted. Similarly, advanced nations have seen employment in industry decline as production increases, again with no mass unemployment. Many conclude that even if the large majority of jobs are automated, we’ll find new jobs.

But in what? It’s hard to imagine, but didn’t they face the same problem in 1900? We do have jobs that someone in 1900 could not have imagined such the computer programmer, but most of the jobs people shifted to […]

Rise of the robots and a jobless future

Rise of the robots and a jobless future

BY MURRAY BECOTTE

SILICON Valley entrepreneur Martin Ford paints a frightening picture in his book Rise of the Robots: Technology and the Threat of a Jobless Future. Ford argues that artificial intelligence and robotics are causing a revolution that won’t be the same as the industrial revolution where as old jobs were eliminated and more were created with the new technology of the era. Ford believes that as technology continues to accelerate and machines begin taking care of themselves, fewer people will be necessary.

Computers can now work things out for themselves using trial and error to develop their own […]

The digital economy needs defending from the hard left and the far right

The digital economy needs defending from the hard left and the far right

Matt Hancock, Minister for the Cabinet Office Automate work, humanize jobs. That needs to be the mantra of the digital economy, according to Matt Hancock, who as Minister for the Cabinet Office in the UK government, has responsibility in part for fostering the digital revolution.

Hancock set out his stall at the 2016 Keith Joseph Memorial Lecture. For the benefit of non-UK readers, Sir Keith Joseph was a British politician, whose long career saw him serve as a minister under four Conservative Party Prime Ministers – Harold McMillan and Alec Douglas-Home in the 1960s, Edward Heath in the 1970s and […]