unemployment

Economy

Exciting but fake news about our strong economy

Yesterday we got more great news about the economy: there are more openings than unemployed. It is fake but exciting clickbait.

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Four Horses

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 …

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Mining and manufacturing are in recession. Will America follow?

Summary: The mining and manufacturing sectors of the US economy have rolled over. Perma-bear websites publish lurid descriptions of the horrific effect this will have on the US economy. What’s the truth? {2nd of 2 posts today.} (1) The manufacturing collapse Perma-bears often describe the manufacturing sector as in a downturn, sometimes as in a …

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