Lure of the long-shot

Lure of the long-shot

A few days ago, the Washington Post ran a feature cleverly titled “Random Man Runs for President” quite literally describing Andrew Yang, one of the 20-something candidates running for the Presidential Elections of the United States in 2020—against one Donald Trump. Except he isn’t random anymore. His campaign is powered by young, neoliberal-leaning, meme-ready, predominantly online supporters calling themselves the ‘yang gang’. Pitching himself as the data guy, Yang hails modest success in business. Like Trump, he is an outsider but unlike him, he comes with no baggage, or public notoriety. And though his candidacy is a long-shot, in […]

It’s Not Robots That Hurt Workers

It’s Not Robots That Hurt Workers

(Photo by JOHN MACDOUGALL/AFP/Getty Images) Education is the job-killer lurking beneath the economy’s surface. Consider an exemplary employer making major investments in training for each of his 100 workers, even covering tuition for those who might benefit from technical courses at a local college. Say the investments have incredible returns, too—by the end of the year, each worker is twice as productive and 50 can do the work that last year required 100. That means 50 jobs have been destroyed.

Does that sound nonsensical? It should. Yet change “education” to “automation” or “technology” and you have the conventional wisdom that […]

The robots are definitely coming and will make the world a more unequal place

The robots are definitely coming and will make the world a more unequal place

So the robots are coming for our jobs, are they? Yawn. That’s such an old story. Goes back to Elizabeth I and the stocking frame, if my memory serves me right. Machines have been taking our jobs forever. But economists, despite their reputation as practitioners of the “dismal science”, have always been upbeat about that. Sure, machines destroy jobs, they say. But hey, the new industries that new technology enables create even more new jobs. Granted, there may be a bit of “disruption” between destruction and creation, but that’s just capitalist business as usual. Besides, it’s progress, innit?

We have […]

Researchers say 8 hours of work a week is enough to feel fulfilled. So why won’t hustle culture die?

Researchers say 8 hours of work a week is enough to feel fulfilled. So why won't hustle culture die?

A new study , which found that eight hours of work is all that humans need to be happy, is riling up the commentariat . Indeed, the findings reaffirm what many liberals, leftists and universal basic income advocates believe about work: namely, that we should all be doing less of it, and that if we did, we would be just as happy and more likely happier.

The study, from University of Salford and University of Cambridge researchers, published in the journal Social Science and Medicine, was specifically motivated by the belief that automation and technology may sharply reduce the number […]

Automation is remaking Mississippi jobs: Are workers ready?

Automation is remaking Mississippi jobs: Are workers ready?

A high school student repairs a car in an automotive shop class. Jobs in automotive body repair are relatively safe from automation, and they don’t require a college degree. Editor’s note: This story led off this week’s Mississippi Learning newsletter, which is delivered free to subscribers’ inboxes with trends and top stories about education in Mississippi. Subscribe today!

Rising use of automated technologies has eliminated thousands of jobs in Mississippi, and many more are at risk, according to a recent report by the Brookings Institution. The report looked at the percentage of tasks — that is, what people actually […]

Shark Tank Star Destroys Sanders’ $15 Minimum Wage Proposal

Shark Tank Star Destroys Sanders' $15 Minimum Wage Proposal

Shark Tank star Kevin O’Leary and CEO Gerald Storch brought a free market reality check to Democratic socialist Sen. Bernie Sanders’ arguments for a $15 minimum wage on CNBC’s Squawk Box June 6. Sanders went to Arkansas to attack Walmart over wages and demanded at its annual shareholders meeting that it raise wages even more on June 5. O’Leary and Storch both opposed a wage mandate, saying markets do a better job of setting wages than the government.

The Storch Advisors CEO insisted that “if you force wages up you know, to $15-an-hour, there will be fewer jobs, fewer higher […]

Job-seekers crushed in a vice

Job-seekers crushed in a vice

Democrat Gov. Ned Lamont signed a bill this week raising the state’s minimum wage in stages to $15 an hour, making Connecticut the latest state to succumb to the “Fight for $15” movement that’s sweeping the country. The signing took place in a celebratory atmosphere in Hartford, where invited guests included minimum-wage workers who shared their financial hardship stories with the media.

The celebration may be short-lived for some workers.

Supporters of raising the minimum wage insisted it would have no negative effects on employment. Some even argued it would increase employment by increasing demand, because poorer people are more likely […]

Listen, RBA, to Money Morning Readers

Listen, RBA, to Money Morning Readers

There you have it…

Last week, we found out why ScoMo defeated the Bill Australia couldn’t afford.

Voters went with the Liberals for economic reasons.In a JWS Research survey of 1,000 voters, 39% of them said economic issues were a key factor for their vote.One Morrison voter later said, ‘ Bill Shorten is no prime minister. ’‘ He would have sent us broke. He had no clue what climate change would cost or how long to charge an electric car. He looked incompetent. ’While I agree with the passionate voter, I’m not so sure Morrison had — or has — much […]

We Must Restore the Dignity of Work. All Work.

We Must Restore the Dignity of Work. All Work.

A McDonald’s employee prepares an order. (Photo by Justin Sullivan/Getty Images) The value and dignity of work—any work—used to be one of the core principles of conservative and Republican thinking. It drove the welfare reform push in the 1990s, and the support for the Earned Income Tax Credit in the present day. It is why people on the right work so hard to remove barriers to work like occupational licensing or required union membership so that opportunity does not remain out of reach for the poorer and more unfortunate. Work, to the mind of the conservative, possesses an intrinsic […]

Robots and us

Robots and us

Photo: Getty Images The robots are not at the gates and the future of work could be great, Kinley Salmon says. So why are others not so chipper? And what does Trump, Kaitangata and the demise of the middle class have to do with how we will live when automation takes over? Bruce Munro investigates.

In late-June, 1970, as Joyce Kempton stood in the fading light at the Balclutha bus stop waiting for her fiance, Sid Beck, to pick her up in his Mark II Zephyr, she was acutely aware of the air of concern pervading her hometown, Kaitangata.

Joyce […]