"Mish" reports on the development of automated trucks, with what appears to be econohawkish glee - oh, the savings we'll make.
But this will be replicated not just in blue collar jobs but the white collar middle class that until recently felt their college degrees and head-expertise insulated them from the uncertain and lower-paid employment of their socioeconomic inferiors. Even fund managers might easily be replaced by machines, as I understand arm-waving, shouty stock market traders are being right now.
The debates over State benefits and the redistribution of wealth are likely to become more lively in the years to come, and people who used to take one side may surprise themselves by crossing the floor.
Besides, when few have a job, how will the demand for goods and services be affected? Business owners need not be complacent, either.
Is the future in community policing and shopping at LIDL?
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