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Market Mad House

In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. Friedrich Nietzsche

More Proof that Technological Unemployment is real and it’s Happening Right Now

November 28, 2017November 28, 2017 daniel Automation hits rural areas harder than the big city., each robot reduced wages for the entire population by .5%, employers will respond to the next recession by replacing people with cheaper and more efficient machines, Every new industrial robot replaced 5.6 workers, Expect the next recession to put over 10 million of people out of work, jobs being killed by technology, middle of the labor market is disappearing, Proof that Technological Unemployment is real, Proof the Technological Jobs Apocalypse will Get Worse, salaries and benefits are all just overhead that can be eliminated by use of machines, Technological Jobs Apocalypse, Technological Unemployment, Technological unemployment is driving income inequality, Technological unemployment will accelerate if there is another recession., the jobs were not replaced with new jobs, the jobs will not come back, Wage growth will shrink by 2.6% between 2017 and 2025 because of industrial robots.

“Long story short, the middle of the labor market is disappearing,” Santens wrote. He envisions a new labor market in which only the highly-skilled and the low-skilled find work.