Computers: Creating Wealth, Eliminating Jobs
Absent in our political discussions about creating more jobs is the recognition that computerized technology is changing the structure of our economy and eliminating traditional jobs.
What's the Latest Development?
Disappointing job creation numbers have stemmed the tide of economic recovery and have economists scratching their heads. But something entirely new may be lurking beneath the surface of our limping recovery: The Second Economy. This computer-intensive portion of industry is growing by leaps and bounds, creating a new generation of billionaires and shaping how our economy may run in the coming decades. Unfortunately, the Second Economy will not create many jobs. Instead, it is creating a broad network of interconnected machines that manage an increasingly automated consumer economy.
What's the Big Idea?
Online retail sales alone, which are controlled entirely by computers, accounted for $200 billion in 2011. Amazon and Google combined for another $88 billion in transactions. But those fortunes are less encouraging than ever: "In the past, every million-dollar increase in economic output generated on the order of ten jobs. In the future, in the productive Second Economy, it may generate only one or two." Absent in political discussions of how to create more jobs is the simple recognition that computerized technology is creating a deep structural change in the 21st century economy.
Photo credit: shutterstock.com
Swipe right to make the connections that could change your career.
Swipe right. Match. Meet over coffee or set up a call.
No, we aren't talking about Tinder. Introducing Shapr, a free app that helps people with synergistic professional goals and skill sets easily meet and collaborate.
Is it "perverseness," the "death drive," or something else?
A disturbing interview given by a KGB defector in 1984 describes America of today and outlines four stages of mass brainwashing used by the KGB.
- Bezmenov described this process as "a great brainwashing" which has four basic stages.
- The first stage is called "demoralization" which takes from 15 to 20 years to achieve.
- According to the former KGB agent, that is the minimum number of years it takes to re-educate one generation of students that is normally exposed to the ideology of its country.
It's up to us humans to re-humanize our world. An economy that prioritizes growth and profits over humanity has led to digital platforms that "strip the topsoil" of human behavior, whole industries, and the planet, giving less and less back. And only we can save us.
- It's an all-hands-on-deck moment in the arc of civilization.
- Everyone has a choice: Do you want to try to earn enough money to insulate yourself from the world you're creating— or do you want to make the world a place you don't have to insulate yourself from?
SMARTER FASTER trademarks owned by The Big Think, Inc. All rights reserved.