In The Reckoning, I suggested that the decades-long squeeze on labor still has room to run, particularly in light of two technological trends: the growing adoption of robotics and the emergence of 3D printing.
Two interviews released this week lend credence to the continuing squeeze. (more…)
I am unable to understand why a society that complains of unemployment should encourage and embrace every conceivable possibility of replacing human labor by mechanical devices.1
We are suffering, not from the rheumatics of old age, but from the growing-pains of over-rapid changes, from the painfulness of readjustment between one economic period and another…We are being afflicted with a new disease…namely, technological unemployment.2
I don’t understand what’s happening to my country.3
In my previous post, I mentioned how George Packer’s latest book The Unwinding evoked a visceral sense that the country’s political and economic trajectories are untenable, and that it was hard to avoid the conclusion that we’re heading toward A Reckoning.
Over the holiday, I found myself driving along U.S. Route 220 in Virginia, about an hour north of the hometown of Dean Price, one of the central characters of The Unwinding. As I traveled that road, which I’d cruised down several times before, I was reminded of Packer’s chronicling of the decline of the textiles and tobacco industries in the Carolina Piedmont, and how in a very real way, America has been gutted. (more…)