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The Lights in the Tunnel Automation Accelerating Technology and the Economy of the Future_5

Tham khảo tài liệu 'the lights in the tunnel automation accelerating technology and the economy of the future_5', tài chính - ngân hàng, tài chính doanh nghiệp phục vụ nhu cầu học tập, nghiên cứu và làm việc hiệu quả | Acceleration 99 require low and moderately skilled workers are being computerized tomorrow it will be jobs performed by highly skilled and educated workers. Indeed this is already happening among information technology professionals where jobs that once required college degrees are simply vanishing into the computer network. Greenspan s suggested solution is that we dramatically improve our elementary and secondary education systems. While that is a goal that I certainly support the idea that it will solve the problem is simply not a realistic expectation. Even if we could wave a magic wand and improve education in the United States overnight it would obviously be years before those children enter the workforce. In the meantime computer technology will continue its relentless advance. The subtitle of Chairman Greenspan s book is Adventures in a New World. However it appears that like most economists he has failed to perceive just how new that world really is. The reality is that the Luddite fallacy amounts to nothing more than a historical observation. Since things have worked out so far economists assume that they will always work out. For centuries machines have continuously become more sophisticated and as a result the productivity and therefore the wages of the average worker have increased. It stands to reason that if this process continues indefinitely at some point the machines will become autonomous and the worker will no longer add value. Long before that extremity is reached however there must come a tipping point at which job losses from automation begin to overwhelm any positive impact on Copyrighted Material Paperback Kindle available @ Amazon THE LIGHTS IN THE TUNNEL 100 employment from lower prices and increased consumer demand. For more on this please see pages 131-138 in Chapter 3 . In light of unprecedented geometrically advancing computer technology the Luddite fallacy does not really look all that fallacious. A More Ambitious View of Future .