Wednesday, January 4, 2012

Technology is destroying jobs faster than it's creating them

"Consider Amazon. For all the jobs created by Amazon’s online sales model, I suspect there were significantly more jobs lost at Borders, Barnes and Noble, and the countless smaller bookstores that closed their doors across the nation.
Of course, disruption has always been a part of business, but I believe the exponential increase in computing power along with the rise of the Internet have brought us to a unique turning point.
Instead of the normal evolutionary rise and fall of industries, our economy is now at something analogous to the Cretaceous-Tertiary extinction event (the end of the dinosaurs). Going forward, those who will prosper will be characterized by their ability to leverage technology, while everyone else will find themselves relegated to obsolescence by exponentially more powerful machines."

I'm currently reading a book on how our economic viewpoint today is screwed and leading us down the wrong path.  I really think we need to have a completely new way of looking at our economy.  We need to put the welfare of the citizenry against some false front like "economic growth" or "progress."   Progress should be where more and more people have sustainable income and education that helps them fit into our current society.  It should not be whether our entire economic output was greater this year than last.

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