Summary: US stocks have risen since the election on expectations that Trump will bring massive debt-financed infrastructure spending and tax cuts for the rich (with droplets for everyone else). As we learned from the Reagan and Bush Jr. programs, we should beware the details. These articles warn what to expect, giving us time to fight … Continue reading See the warnings about Trump’s infrastructure plan. It’s betraying populism.
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.
Summary: Trump serves a common and vital role in US politics, introducing popular issues that the elites of both parties suppress. Such as immigration. Here are some of the numbers that show why many Americans worry about the high rate of immigration (but not our elites, who love the cheap workers and politically passive voters). … Continue reading The numbers about immigration that fuel Trump’s campaign
Summary: We're on course to repeat the mistakes of the first 2 industrial revolutions in the 3rd. The wonders of increased productivity benefit the 1%, while the middle class seeks easy but chimerical ways to preserve their way of life. Anything but the work and risk of collective political action. Today we examine the favorite … Continue reading Education is not a solution to automation
Summary: It was long denied, but now everybody sees the coming of the next industrial revolution. We enter the next phase, when experts assure us that the obvious will not happen, that the dynamics of past industrial revolutions would not repeat (although they don't explain why). Today we look at experts grappling with these issues, … Continue reading The promise and peril of automation: now everyone sees the challenge