A study says that by 2025 the cost of a robot that does welding will be less than $2 an hour. That’ll keep Union Shop Stewards awake at night. Australia’s Dept. of Industry predicts that 500,000 high skilled jobs like accounting and finance will be replaced by robots and automation! There’s a lot of competition for a job. (Transcript & links below)
Robots Demand $2 an Hour
One subject that can always guarantee some angry emails and usually name-calling along lines of “I’m a moron to suggest that technological substitution has to be considered in so many areas from minimum wage, to government subsidies, healthcare reform and transit. It’s a good bet these people won’t want to consider the impact of technology on the Presidential election, where Donald Trump rode blue-collar job losses to the white house in some key states.
….also from Michael: The Main Investment Theme For the Next Decade