Tuesday, January 6, 2015
Where Will All the Workers Go? by Nouriel Roubini
Recent technological advances have three biases: They tend to be capital-intensive (thus favoring those who already have financial resources); skill-intensive (thus favoring those who already have a high level of technical proficiency); and labor-saving (thus reducing the total number of unskilled and semi-skilled jobs in the economy). The risk is that robotics and automation will displace workers in blue-collar manufacturing jobs before the dust of the Third Industrial Revolution settles.
Read more at http://www.project-syndicate.org/commentary/technology-labor-automation-robotics-by-nouriel-roubini-2014-12#vwyI4Yal2lSkdcRt.99
Nouriel Roubini is an American professor of Economics at New York University`s Stern School of Business and chairman of RGE Roubini Global Economics