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Automation to cause decades-long economic dislocation

Axios.com is reporting that many experts say automation will disrupt western economies even more than industrialisation did. Experts cited in the report say that America alone could lose 2.5 million jobs a year due to this, with new jobs paying much less than the old ones displaced by machines. They hypothesise that this could “potentially lead to an upheaval rivaling the current populism”. Ya’ think? And perhaps the “current populism” is driven partly by this to begin with?

And to think that many world leaders, like Tony Blair, continue to deny that populism and discontent in flyover country have any legitimate political standing whatsoever. “Nothing to see here” indeed.

Suggested reading

The full effects of automation will be way more disruptive than globalisation

By Peter Franklin