Mr. Morici may be an economist but he writes like an ideologue. He has the scapegoat mentality. All that fails is that labels Obama a Muslim and a doubtful born American.
Obama (with all the shortcomings) is not at the center of the US woes with its declining jobs. Building pipelines will not assure full-time employment into the future. There is no future in 'job creation'. The era of a 'job economy' is vanishing. Companies no longer cite how successful they are by hailing employment figures (as was common practice in the 20s and 30s)...it is now the reverse. STEM won't alter the course. Pipelines won't alter the course. Nor will eliminating social services swell the employment ranks.
Robot and digital technology (along with other innovations that do not produce labor intensive tasks) will increasingly outperform labor. Outperform physically (already in warehouses). Outperform in skills (already in operating rooms and in cockpits). And outperform in services.
We nurture 'denial' citing how technology has always created more jobs than it has destroyed. And that is the case...but robot and digital technology are in a different class. A pipeline here, some F-15s there, and more fracking on the landscape won't cut it. Beyond 2050 there will be 40 million robots in the workforce (industry figures). That is well beyond 80 million human equivalents. Eliminating immigrant labor may temporarily ease the matter.
There is a wholly transformed economy evolving. It needs to be understood. Dr. Morici misunderstands (and misleads) the public with using Obama as his scapegoat. And in this instance he plays into the hands of those who will pocket profits from a questionable enterprise.
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Obama Continues To Sell Out American Workers For Political Gain
Mr. Morici may be an economist but he writes like an ideologue. He has the scapegoat mentality. All that fails is that labels Obama a Muslim and a doubtful born American. Obama (with all the shortcomings) is not at the center of the US woes with its declining jobs. Building pipelines will not assure full-time employment into the future. There is no future in 'job creation'. The era of a 'job economy' is vanishing. Companies no longer cite how successful they are by hailing employment figures (as was common practice in the 20s and 30s)...it is now the reverse. STEM won't alter the course. Pipelines won't alter the course. Nor will eliminating social services swell the employment ranks. Robot and digital technology (along with other innovations that do not produce labor intensive tasks) will increasingly outperform labor. Outperform physically (already in warehouses). Outperform in skills (already in operating rooms and in cockpits). And outperform in services. We nurture 'denial' citing how technology has always created more jobs than it has destroyed. And that is the case...but robot and digital technology are in a different class. A pipeline here, some F-15s there, and more fracking on the landscape won't cut it. Beyond 2050 there will be 40 million robots in the workforce (industry figures). That is well beyond 80 million human equivalents. Eliminating immigrant labor may temporarily ease the matter. There is a wholly transformed economy evolving. It needs to be understood. Dr. Morici misunderstands (and misleads) the public with using Obama as his scapegoat. And in this instance he plays into the hands of those who will pocket profits from a questionable enterprise.