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Automation = Fewer Jobs

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Scotland County desperately needs jobs. An expensive new Economic Development Director was recently hired to ‘make it happen’. Previous directors failed to produce results.

In today’s rapidly shifting employment environment this is going to be a daunting challenge. AI (artificial intelligence) driven automated robotics is progressing at an unimaginable pace and the truth is, few employment categories will prove immune to this onslaught.

Here’s a great interview that brings this issue into focus:

While not part of the official economic lexicon, I consider a ‘malincentive’ a useful word to describe any promise of short-term gain whose long-term costs outweigh any immediate benefits enjoyed. The temptation to urinate in one’s pants on a cold winter day to get warm is a (perhaps unnecessarily) graphic example of malincentive. Yes, a momentary relief from the cold can be achieved; but moments later, you’ll have a much larger problem than you did at the outset.Read more…

 

Sources:
Peak Prosperity

 

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