“Imagine that 7 out of 10 working Americans got fired tomorrow. What would they all do? It’s hard to believe you’d have an economy at all if you gave pink slips to more than half the labor force. But that—in slow motion—is what the industrial revolution did to the workforce of the early 19th century. Two hundred years ago, 70 percent of American workers lived on the farm. Today automation has eliminated all but 1 percent of their jobs, replacing them (and their work animals) with machines. But the displaced workers did not sit idle. Instead, automation created hundreds of millions of jobs in entirely new fields.”
http://www.wired.com/gadgetlab/2012/12/ff-robots-will-take-our-jobs/all/
Related posts:
Learn Bobby Tay’s $2.7 Trillion Sigma Secret
Clinton Pledges $45 Million in Aid to Al Qaeda in Syria
The “I Thought Bonds Were Safe” Fallacy…
Lexicon Shift Alert: global warming gets another name change
Democrats may sell political opinions to credit card companies
How to create an Angry American
A Rare – and Encouraging – Glimpse at How a Free Market Could Work in the Health Sector
Housing…”For-Sale” Supply Wave Hitting Market?
The MIT-Central Bank Connection
The drug revolution that no one can stop
How to negotiate directly with physicians and hospitals
Then They Came For the Prosecutors....
Pre-Internet Laws Are Jeopardizing Today's Electronic Privacy
Bitcoin in Israel: Interview with Meni Rosenfeld and Ron Gross, Part I
Insider Speaks About Booz Allen, The Employer of Edward Snowden