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Buffet is an optomist - bullet - 01-08-2018 01:15 PM
http://time.com/5087360/warren-buffett-shares-the-secrets-to-wealth-in-america/
Warren Buffet is an optimist:
"I have good news. First, most American children are going to live far better than their parents did. Second, large gains in the living standards of Americans will continue for many generations to come...."
This is clearly true for the intelligent and well educated. But not everyone can become computer programmers and robot designers. And the impact of population growth in Africa and Asia on the demand for less skilled labor is a real issue. So I'm not so sure.
RE: Buffet is an optomist - arkstfan - 01-08-2018 02:49 PM
(01-08-2018 01:15 PM)bullet Wrote: http://time.com/5087360/warren-buffett-shares-the-secrets-to-wealth-in-america/
Warren Buffet is an optimist:
"I have good news. First, most American children are going to live far better than their parents did. Second, large gains in the living standards of Americans will continue for many generations to come...."
This is clearly true for the intelligent and well educated. But not everyone can become computer programmers and robot designers. And the impact of population growth in Africa and Asia on the demand for less skilled labor is a real issue. So I'm not so sure.
It is pretty clear Buffet like some of the Silicon Valley folks touting UBI or NIT thinks there are going to be people who are unemployable because demand for low skill work will outstrip supply.
Shoot demand for some skilled work is falling. University of Arkansas for Medical Sciences Hospital announced 650 positions are being eliminated and 258 are being laid off and per a friend out there, part of that is automation reducing demand for people in medical tech fields, one med tech is able to do more than a few years ago.
Layoffs will also include some doctors and nurses.