The Motley Fool Discussion Boards

Previous Page

Politics & Current Events / Retire Early Liberal Edition

URL:  https://boards.fool.com/m-cuban-a-yang-on-the-future-of-work-34280370.aspx

Subject:  M Cuban A Yang on the Future of Work Date:  8/24/2019  1:56 PM
Author:  rainphakir Number:  127313 of 130236

It's basically political but, Mark Cuban couches the retoric in terms of (his POV) how work/jobs affect the economy.

Cuban
- after being displaced what are you going to go back and learn how to do?

- in 10 years, there will be a greater demand for Liberal Arts majors (English majors, philosophy, foreign language majors [? What? I personally see translation being automated, too] than for Programming or Engineering majors. When data is being spit (by automated processes) you need a person who is a "free thinker" (rahter than a narrow, rigid thinker) to make sense of the out put.



https://youtu.be/jXvFraQw01Q

Much of the interview includes clips of Andrew Yang explaining how he sees "work" changing.

- not only are many jobs being automated, but more importantly automation is being automated (those humans building the robots and writing the code will be out of work because writing code and building machines is automated).

- humans are not infinitely malleable ie many displaced workers CANNOT be retrained. Example: truckers cannot be retrained to computer programming.

- displaced workers still want to work. But their skill set is no longer valuable enough to the market, to allow the worker to earn a living wage. (Many can not find jobs, so they go (permanently?) on disability.

- are they truly disabled? Anyone who works in a factory for a decade will have some kind of damage. (I particularly liked this statement!)

-retrain, re-skill, = higher quality work. Remember that from macro economics? That course where you got a B. PARAPHRASED. Yang contends that retrain and re-skill as promoted NO LONGER FUNCTION.

- government retraining programs are between 0-15% effective. Ie retraining doesn't work for most people.

- GDP has not been updated in decades. It does not adequately value work such as housewife/full-time-mom. Military spending is overvalued in GDP.


How about a Yang/Cuban ticket?

🙂
ralph
Copyright 1996-2019 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us