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

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Unequal representation caused problems for Britain in 1776, & will for us soon

Summary: Conservatives belittle concerns about America's increasingly unrepresentative government. Citizens in these big states have 29% the voting weight of small states in the Federal government (even slaves were weighted at 60%). Citizens in cities have less representation than those in rural areas (just as in Britain's 18th century rotten boroughs). Unequal political representation has caused serious … Continue reading Unequal representation caused problems for Britain in 1776, & will for us soon

Warning: the income gap between races is widening in America

Summary: We begin the Trump years with generations of progress unraveling in the healing of America's racial divide, with the likelihood of further deterioration quite high. We should understand what's happening to better prepare for what's next. A new study looks at the causes of the widening income gap between black and white Americans. It … Continue reading Warning: the income gap between races is widening in America