Rise Of The Robots: Technology And The Threat Of A Jobless Future - Plot & Excerpts
“There’s no magic solution,” he replied. “To even stand still we have to move very fast.” By this, he meant that the economy needs to create tens of thousands of new jobs every month just to keep pace with population growth and prevent the unemployment rate from rising even further. He pointed out that “we have a combination of older workers who have been thrown out of work because of technology and younger people coming in” with too little education. The president proposed a tax cut to stimulate the economy, but he kept returning to the subject of education—in particular, advocating support for programs focused on “vocational education” and “job retraining.” The problem, he said, wasn’t going to solve itself: “[T]oo many people are coming into the labor market and too many machines are throwing people out.”1The president’s words capture the conventional—and nearly universal—assumption about the nature of the unemployment problem: more education or more vocational training is always the solution.
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