The new industrial revolution hits retail: prepare for mass firings.

Retail Technology

Summary: The new industrial revolution will have its greatest effect on industries that have large imbalances. Like retail, after decades of overbuilding stores. Lots of jobs will be destroyed. Watch closely, other industries will be hit with similar shocks. Hayley Petersen at Business Insider points to the next wave of the industrial revolution: "The retail apocalypse … Continue reading The new industrial revolution hits retail: prepare for mass firings.

Advertisements

Good news: a new industrial revolution has begun!

Summary: For the next chapter of this series about good news, let's look at the new industrial revolution. Our experience with the last industrial revolution shows us the potential and peril that lies ahead. It will be exciting. Let's work to make it fun, not painful. “For the world is changing: I feel it in … Continue reading Good news: a new industrial revolution has begun!

Ignore the hype. There are few shortages of skilled workers in America.

Summary: The shortage of STEM workers is a zombie myth too politically useful to die. But here's data that should kill it. Worse, it implies we might soon see a surplus of highly educated workers, undercutting the more education as a solution to automation story. We'll need to consider more radical ideas. "While there are … Continue reading Ignore the hype. There are few shortages of skilled workers in America.

Our scary future: sexbots are coming, powering the ‘sexodus’

Summary: The war of the sexes has begun a new chapter, with the development of tech sex (as far beyond today's sex toys as a horse-drawn buggy is to a F-35). It's too disturbing for most mainstream analysts to see, let alone discuss (other than to condemn). Brave readers will read this post and its … Continue reading Our scary future: sexbots are coming, powering the ‘sexodus’

Look at the retail sector and see the power of the new industrial revolution

Summary: Economists and financial experts are baffled by events because their minds know only the past and so do not see the new industrial revolution at work, slowly in its early days. Look at the retail sector. What explains unusually high corporate profits, rapid growth in sales -- along with slow growth in jobs and … Continue reading Look at the retail sector and see the power of the new industrial revolution

Why a guaranteed minimum income won’t protect us from the automation wave

Summary: My post A guaranteed minimum income: faux solution for the new industrial revolution sparked discussions in the comments and on Twitter, with some powerful insights and incisive questions. Here are answers to a few of the questions raised. A guaranteed minimum income (GMI) is a powerful tool for fighting poverty. As such it has … Continue reading Why a guaranteed minimum income won’t protect us from the automation wave

A guaranteed minimum income: faux solution for the new industrial revolution

Summary: Solutions are proposed as the shockwave of the new industrial revolution becomes visible on the horizon. Naturally, we first get small and comfortable ones -- such as a guaranteed minimum income, which guarantee high and growing levels of inequality. We might even implement these, leaving the resulting social turmoil for the next generation. First … Continue reading A guaranteed minimum income: faux solution for the new industrial revolution