Productivity will equalize and then growth will slow. When I’m pessimistic I fear every national economy will look like Japan’s as soon as we catch up.
That’s not a joke—industrial automation is proceeding at a rapid clip and the range of jobs for which you want dumb but cheap human labour continues to contract.
Any thoughts about what will happen when there are no longer really cheap places to move to?
Productivity will equalize and then growth will slow. When I’m pessimistic I fear every national economy will look like Japan’s as soon as we catch up.
The robots will take over.
That’s not a joke—industrial automation is proceeding at a rapid clip and the range of jobs for which you want dumb but cheap human labour continues to contract.