Donald Trump tends to present the labor market as a zero-sum game: companies have shifted production to China and other emerging markets. He’s going to bring those jobs home.
Put aside for a moment how moving jobs back to a country with high costs gives companies an incentive to automate . There’s a bigger problem: After displacing U.S. manufacturing workers, robots are poised to do the same in developing economies, too. It will be hard to re-shore jobs that no longer exist.
It took 50 years for the world to install the first million industrial robots. The next million will take […]
Full Post at www.bloomberg.com