JimBowie1958
Old Fogey
- Sep 25, 2011
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And that is a bad thing as now our governments finance themselves largely with individual income taxes and traffic fines at the municipal level.
How will the government find its funding without hiking taxes to 90% and taxing corporations similarly? Well, never mind the corproations, they have Congress on a short leash so they dont have to worry.
Are robots going to steal your job? Probably | Moshe Y Vardi
As thedecoupling datashow, the US economy has been performing quite poorly for the bottom 90% of Americans for the past 40 years. Technology is driving productivity improvements, which grow the economy. But the rising tide is not lifting all boats, and most people are not seeing any benefit from this growth. While the US economy is still creating jobs, it is not creating enough of them. The labor force participation rate, which measures the active portion of the labor force, has been dropping since the late 1990s.
While manufacturing output is at an all-time high, manufacturing employment istoday lowerthan it was in the later 1940s. Wages for private nonsupervisory employees havestagnatedsince the late 1960s, and the wages-to-GDP ratio has beendeclining since 1970. Long-term unemployment istrending upwards, and inequality has become a global discussion topic, following the publication of Thomas Piketty’s 2014 bookCapital in the Twenty-First Century.
Most shockingly, economists Angus Deaton, winner of the 2015 Nobel memorial prize in economic science, and Anne Casefoundthat mortality forwhite middle-aged Americanshas been increasing over the past 25 years, due to an epidemic of suicides and afflictions stemming from substance abuse.
Is automation, driven by progress in technology, in general, and artificial intelligence and robotics, in particular, the main cause for the economic decline of working Americans?
How will the government find its funding without hiking taxes to 90% and taxing corporations similarly? Well, never mind the corproations, they have Congress on a short leash so they dont have to worry.
Are robots going to steal your job? Probably | Moshe Y Vardi
As thedecoupling datashow, the US economy has been performing quite poorly for the bottom 90% of Americans for the past 40 years. Technology is driving productivity improvements, which grow the economy. But the rising tide is not lifting all boats, and most people are not seeing any benefit from this growth. While the US economy is still creating jobs, it is not creating enough of them. The labor force participation rate, which measures the active portion of the labor force, has been dropping since the late 1990s.
While manufacturing output is at an all-time high, manufacturing employment istoday lowerthan it was in the later 1940s. Wages for private nonsupervisory employees havestagnatedsince the late 1960s, and the wages-to-GDP ratio has beendeclining since 1970. Long-term unemployment istrending upwards, and inequality has become a global discussion topic, following the publication of Thomas Piketty’s 2014 bookCapital in the Twenty-First Century.
Most shockingly, economists Angus Deaton, winner of the 2015 Nobel memorial prize in economic science, and Anne Casefoundthat mortality forwhite middle-aged Americanshas been increasing over the past 25 years, due to an epidemic of suicides and afflictions stemming from substance abuse.
Is automation, driven by progress in technology, in general, and artificial intelligence and robotics, in particular, the main cause for the economic decline of working Americans?
