Saturday, December 06, 2014

In a Wall Street Journal article Oct. 14, 2014
William Galston reported a perfect synopsis of the overarching factor driving the employment world of the future:

A recent special report by the Economist magazine offers a disturbing answer to this question. The report’s author, Ryan Avent, assembles an impressive array of evidence for the proposition that advances in information and communications technology are destroying more jobs in advanced economies than the advances are creating. Two Oxford scholars, Carl Benedict Frey and Michael Osborne, recently concluded that 47% of employment in America “is at high risk of being automated away” over the next two decades. Computer-driven technological change, which began by reducing the labor required for mass production, is now hollowing out the job market, for even routine legal and accounting tasks.

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