economics Future Trends Infrastructure Societies

Even CNN Understands Jobs Are Obsolete In Post-Industrial Abundance

“New technologies are wreaking havoc on employment figures — from EZpasses ousting toll collectors to Google-controlled self-driving automobiles rendering taxicab drivers obsolete. Every new computer program is basically doing some task that a person used to do. But the computer usually does it faster, more accurately, for less money, and without any health insurance costs.
We like to believe that the appropriate response is to train humans for higher level work. Instead of collecting tolls, the trained worker will fix and program toll-collecting robots. But it never really works out that way, since not as many people are needed to make the robots as the robots replace.
And so the president goes on television telling us that the big issue of our time is jobs, jobs, jobs — as if the reason to build high-speed rails and fix bridges is to put people back to work. But it seems to me there’s something backwards in that logic. I find myself wondering if we may be accepting a premise that deserves to be questioned.”

Even if it’s an opinion piece, a lone voice in the wilderness, I’m very surprised to see this kind of sentiment in an MSM publication like CNN.

ezpass booth

Business economics Societies

The Decline of the Traditional Job

The original Luddites were quick to grasp the long term implications of the industrial revolution as they saw their living vanish overnight.

The ‘job’ as generations from the 19th century onward have known it has gradually been decreasing in importance and reliability.

We’ve tried reducing to 40 hour work weeks, we use schools to keep young people off the job market for years.
We’ve adopted a truly Keynesian economy that devotes most of its efforts to useless pyramids and intangibles rather than producing concrete things, if only to keep people occupied and keep wealth in circulation.

Yet we’ve reached a point where even these measures are failing to create a job market that can distribute wealth enough to create a stable society.

I cannot help but conclude that we are approaching an age of small scale entrepreneurship because that’s how increasingly more people are going to have to make their money. In some ways it is actually an age of opportunity where more people will be free agents rather than hirelings. And perhaps society will actually benefit from vast numbers of useless pyramid builders being freed up to do things that actually yield a net positive effect.

If the payoff from scarce jobs does not outweigh the inconvenience and strain of being lorded over by bosses, alternatives become more attractive.

An initial consideration for finding a solid source of wealth, a viable business concept.

Does it have an economic “moat” that makes it difficult for competitors to challenge you or can anyone set up shop overnight?

Here’s a rundown of the types of economic moats.