“We are undergoing the greatest economic transformation in our history, and we are dealing with it by pretending nothing is happening.”

The wave of automation is coming

#Robots

Wed, Apr 17th, 2019 11:32 by capnasty NEWS

On CNN Andrew Yang warns that we are about to witness the greatest economic transofrmation of our history not because of immigrants taking jobs but because of the on going displacement caused by the growing use of automation.

If you doubt that this is already happening, consider that America's labor participation rate (the ratio of people who are working compared to the total population aged 16 and over) today has fallen to 63%, about the same level as Ecuador and Costa Rica. In the US, almost one out of five prime, working age men have not worked in the past year, and our life expectancy has declined for the past three years, in part due to surges in drug overdoses and suicides. This is before a projected 33% of American malls and retail stores may be forced to shutter their doors, and it might not be long before truck drivers are replaced with self-driving trucks.

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