Friday, January 24, 2014
Our country has a two-fold economic crisis with no feasible solution in sight.
One, we need jobs now.
And two, these jobs must pay a living wage.
Whatever that is.
Consider two stark realities; one about quantity, the other about quality.
Job quantity is simply being annihilated by technology.
One hundred years ago 33% of all American jobs were on the farm.
Today, just 2% are farmers producing so much food we export it.
Kodak once employed 145,000 in New York State.
Today, Instagram services over 30 million customers with a total workforce of 13.
America’s hotel business was the single largest employer of people with modest education, often minorities.
Yet we are flocking to airbnb, slowly destroying this bedrock employment.
Computers are far more reliable at monitoring closed circuit tv for an intruder.
And quality is fading, because jacking up minimum wage will simply drive employers to forgo human workers for their computer and robotic counterparts.
A recent Oxford University employment study predicts that fully half of all of today’s jobs will no longer exist or will be automated within the next 20 years.
If you are under the age of 40,
this is the future you must prepare for.
Because truth is, the rich don’t have to care
and government has no idea what to do.