Update about immigration: a hot issue in 2016, forgotten in 2017

Immigration

Summary: Immigration was a major issue of the 2016 election, to the discomfort of America's ruling elites. Afterwards it was displaced by issues more important to them, such as stripping healthcare from millions and cutting taxes for the rich. It exists today in the media mostly in emotional "human interest" stories about "dreamers" (such labels … Continue reading Update about immigration: a hot issue in 2016, forgotten in 2017

Lessons for us about AI from the horse apocalypse

Summary: Artificial intelligence has arrived. The mid-twentieth century horse apocalypse shows us what it might do to employment. It is history's rebuttal to the pollyannas about tech. This is a follow-up to yesterday's post -- Films show us how smart machines will reshape the world. “We tend to overestimate the effect of a technology in the short … Continue reading Lessons for us about AI from the horse apocalypse

Today’s Jobs Report Is Important, But Not For The Reasons You’re Given

TV noise

Summary: It's time for the monthly festival of misinformation about the jobs report! It shows two key trends giving bad news for investors, the Fed's governors, Team Trump, and America.  They shatter the dreams of growth that flowered in 2015 (for the third time in this expansion). This is the second of today's two posts. May's … Continue reading Today’s Jobs Report Is Important, But Not For The Reasons You’re Given

The new industrial revolution has begun. Research shows more robots = fewer jobs

Automation robot

Summary: Here is a milestone economics paper, showing that the new wave of automation is already a net destroyer of jobs. The next industrial revolution has begun, and the effects will accelerate from here. We have to start thinking about ways to divide the new wealth it produces -- and handle the massive unemployment. "On … Continue reading The new industrial revolution has begun. Research shows more robots = fewer jobs

The March jobs reports shatters dreams, but might point to a stronger future for America

Summary: It's time for the monthly festival of misinformation about the jobs report! It is ugly news for investors, the Fed's governors, and Team Trump. But it might -- perhaps -- point to a stronger future for America. The Roman god Janus sees both sides of the news. So should we.  This is the second of … Continue reading The March jobs reports shatters dreams, but might point to a stronger future for America