A $1,000 per month cash handout would grow the U.S economy by $2.5 trillion, new study says

[Pemalite]

DonFerrari said:

Pemalite said:

Robotics will reduce the amount of unskilled available jobs.
But it will increase the amount of skilled jobs... Which means people need to upskill more.

As computers and robotics becoms more common... You need people to maintain them, update them, build them, design them and so on.

Probably not all jobs are going to be replaced by new jobs on the same market, but new jobs on other markets... just look at economy distribution of labor in USA 200 years ago and now. People moved from agro, to manufacture, to services in the time between. So it will be much more people oriented and services heavy economy than production.

Same thing happened with Australia.
We used to be heavy into manufacturing, making stuff like cars, washing machines... You name it.
Then our Manufacturing imploded... Our high minimum wages (Almost $18 an hour) didn't help matters.
We transitioned our economy to resources, services and tourism and high-skilled work and it turned out... It was better for everyone anyway.

China right now is undergoing it's own Industrial revolution, it's difficult for anyone who isn't an emerging economy to compete with that, I personally think Brazil, Indonesia and India are probably the best equipped nations to take on manufacturing after China starts to falter/gets to expensive. And that is okay.

Economies transitioning is a natural process propelled by capitalism, it shouldn't be seen as a bad thing in my eyes.