60 Minutes: Are robots hurting job growth?

Technological advances, especially robotics, are revolutionizing the workplace, but not necessarily creating jobs. It is certainly leading to lay offs on Wall Street as the HFT machines continue to trade public markets in micro-seconds with little human involvement. Here is a direct link.

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4 Responses to 60 Minutes: Are robots hurting job growth?

  1. michael says:

    Speaking of robots…..what madness has been created? Is this the next trigger?

    http://www.zerohedge.com/news/2013-01-14/it-took-algos-4-seconds-fully-process-flashing-red-dell-headline

  2. John C says:

    The next/current phase of planned obsolescence is the obsolescence of human beings.

    Futurists of the past envisioned a utopia where robots relieved human beings of the drudgery of work. What they forgot to include in their scenarios is how you distribute wealth in a society that does not need human labour.

    Oh, wait, THAT’s why government is becoming a larger rand larger percentage of the economy. Eventually, we will all ‘work’ for Big Brother and He will graciously provide for all according to our needs. Swell.

    So in terms of future visions, we’ve gone from Star Trek to a conflated vision of Wall-E and 1984?

  3. michael says:

    Here’s one for Cory….. and it’s not even electric…..I’m in.

    http://www.examiner.com/article/volkswagen-s-600-car-gets-258-mpg

  4. William says:

    Yes, robots can assemble e.g. electric cars, electric shavers. But in order to be profitable that production needs a minimum demand for shavers, cars etc.. And where’s that demand going to come from when people can’t afford to buy those things anymore ?

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