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Bain consultants' macro trends department have released a report examining trends in demographics, automation and inequality to produce a set of predictions.
This kind of report seems to be all over the place these days, but this one seems more detailed and perhaps a little less optimistic than most.
In the US, a new wave of investment in automation could stimulate as much as $8 trillion in incremental investments and abruptly lift interest rates. By the end of the 2020s, automation may eliminate 20% to 25% of current jobs, hitting middle- to low-income workers the hardest. As investments peak and then decline—probably around the end of the 2020s to the start of the 2030s—anemic demand growth is likely to constrain economic expansion, and global interest rates may again test zero percent. Faced with market imbalances and growth-stifling levels of inequality, many societies may reset the government's role in the marketplace.
They predict that governments will assume a larger role in markets to combat inequality and boost demand, but will our corporate overlords decide that's in their interests, or continue to squeeze the lower and middle classes forever?
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(Score: 2, Funny) by aristarchus on Wednesday February 14 2018, @04:55AM
And I want my flying car! But surely you realize, capitalism can provide none of these things. It is incapable of actual technological progress, and instead is driven by market progress. This is why Facebook is valued more highly than SoylentNews, even though SN provides more actual value than that other place.
But the worm has turned. Despite khallow, and other reprobates, the capitalist model is gone, replaced by the Web 2.0 model. Likes will eventually replace monetary units, and respect and kudos for those who can actually, as the Cable Guy says, "get 'er done!", monetary compensation will fade. In the future, khallow will be worth nothing, judging by his posts here. But, on the other hand, TMB may survive the transistion, as long as we are willing to buy him gas and beer, for his fishing boat, in exchange for his excellence in coding the SoylentNews.
Aristarchus, however, will have to rely, as always, on the charity of the few, and not the totally wacko few, like Peter Thiel or Bill Gates, to support the work of philosophy, which never ends, and in fact becomes more essential in these times of fake news and personal facts.
The second installment of "Ethics for Soylentils" is in the pipe! Look for it soon.