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Showing posts from July 13, 2014

swatting at the structural unemployment solution, again.

The Board of Editors of the Scientific American has annoyed me with their editorial comment in the current issue. It is one of those nattering naif kind of comment about how, gosh, machines are gobbling up jobs, and this explains rising inequality, rising unemployment, stagnatine wages and the rest of it. The quote a study by Carl Benedikt Frey and Michael Osbourne in which the authors predict that, in the coming decades, 47 percent of American jobs will be rendered obsolete by hyper hyper technology, everything from tax preparer to locomotive engineers. Significantly, there’s no mention of CEOs – even though that is a position which, using a few basic data search devices and some algorithms, could easily be folded into a couple of computers. But of course – NO! Not our sacred risktakin’ job creators! Not their jobs, Jesus… Anyway, what irritates me is the blindness to like data. Because here’s the truth: capitalist private enterprise, as the Great Depression showed and as Marx rei