ACCELERATING TECHNOLOGY A THREAT TO UNEMPLOYMENT

What are the jobs of the future? How many will there be? And who will have them? As technology continues to accelerate and machines begin taking care of themselves, fewer people will be necessary. Artificial intelligence is already on its way to making “good jobs” obsolete: many paralegals, journalists, office workers, and even computer programmers are posed to be replaced by robots and smart software. As progress continues, blue- and white-collar jobs alike will evaporate, squeezing working- and middle-class families even further. At the same time, households are under assault from exploding costs, especially from the two major industries-education and healthcare-that, so far, have not been transformed from information technology. The result could be well massive unemployment and inequality as well as the implosion of the consumer economy itself. The past solutions to technological disruption, especially more training and education, aren’t going to work. We must decide, now whether the future will see broad-based prosperity or catastrophic levels of inequality and economic security. Therefore, it is essentials for the youngsters and future leaders to understand what accelerating technology means for our economic prospects as well as for society as whole.