"Ok. What`s depressing -- what`s depressing jobs is that the world supply and demand for labor has changed. In other words, there`s a lot more people working as China came on and India came on and they are competitive. There`s a world supply of labor has change -- has increased and technology has had an effect.
So we`re in an interesting era because I think almost and if you think of a person as -- in a machine, an economic machine as being tool, a part of that economic machine the demand for labor has changed in a very profound way. It`s an interesting question. We might enter into a period in which we don`t need people as tools. So what does that mean?"
So he is concerned about the breakdown of the Luddite fallacy. Interesting, considering he has everything to gain from promulgating the guarantee of infinite employment opportunities for average citizens. I believe this is a fair canary in the coal mine for the structural employment nightmare we shall face in the coming decades.
Comments
"Ok. What`s depressing -- what`s depressing jobs is that the world supply and demand for labor has changed. In other words, there`s a lot more people working as China came on and India came on and they are competitive. There`s a world supply of labor has change -- has increased and technology has had an effect.
So we`re in an interesting era because I think almost and if you think of a person as -- in a machine, an economic machine as being tool, a part of that economic machine the demand for labor has changed in a very profound way. It`s an interesting question. We might enter into a period in which we don`t need people as tools. So what does that mean?"
So he is concerned about the breakdown of the Luddite fallacy. Interesting, considering he has everything to gain from promulgating the guarantee of infinite employment opportunities for average citizens. I believe this is a fair canary in the coal mine for the structural employment nightmare we shall face in the coming decades.