The Motley Fool Discussion Boards

Previous Page

Investment Analysis Clubs / Macro Economic Trends and Risks

URL:  http://boards.fool.com/30506806.aspx

Subject:  Re: Middle Class[Income] Jobs ain't Coming Back? Date:  1/25/2013  4:45 PM
Author:  tjscott0 Number:  414316 of 454811

http://news.yahoo.com/smart-machines-create-world-without-05...

Now, three years after Google invented one, automated cars could be on their way to a freeway near you. In the U.S., California and other states are rewriting the rules of the road to make way for driverless cars. Just one problem: What happens to the millions of people who make a living driving cars and trucks — jobs that always have seemed sheltered from the onslaught of technology?
"All those jobs are going to disappear in the next 25 years," predicts Moshe Vardi, a computer scientist at Rice University in Houston. "Driving by people will look quaint; it will look like a horse and buggy."
If automation can unseat bus drivers, urban deliverymen, long-haul truckers, even cabbies, is any job safe?

Vardi poses an equally scary question: "Are we prepared for an economy in which 50 percent of people aren't working?"

It turns out that computers most easily target jobs that involve routines, whatever skill level they require. And the most vulnerable of these jobs, economists have found, tend to employ midskill workers, even those held by people with college degrees — the very jobs that support a middle-class, consumer economy.
So the rise of computer technology poses a threat that previous generations of machines didn't: The old machines replaced human brawn but created jobs that required human brains. The new machines threaten both.

Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us