New Models Of Economic Growth

laitman_547_06In the News (Oxford Martin School): “A new report from Citi and the Oxford Martin School explores the varying impact that automation of jobs will have on countries and cities around the world, in the near future and the coming decades. …

“Technology at Work v2.0: The Future Is Not What It Used to Be builds on 2013 research by Carl Benedikt Frey and Michael Osborne which found that 47 per cent of US jobs were at risk of automation over the next two decades, and on the first Technology at Work report, published in 2015. …

“Key areas of analysis in the report include:

…the authors consider the risks of job automation to developing countries, estimated to range from 55% in Uzbekistan to 85% in Ethiopia, with a substantial share of jobs being at high risk of automation in major emerging economies including China and India (77% and 69% respectively).

While manufacturing productivity has traditionally enabled developing countries to close the gap with richer countries, automation is likely to impact negatively on their ability to do this, and new growth models will be required.

The impact of automation may be more disruptive for developing countries, due to lower levels of consumer demand and limited social safety nets.

Digital industries have not created many new jobs. Since 2000, just 0.5% of the US workforce has shifted into new technology industries, most of which are directly associated with digital technologies.

The largest number of job openings in the coming decades is projected to be in the health sector, which is expected to add more than 4 million new jobs…

“Kathleen Boyle, Citi GPS Managing Editor, acknowledges that mindsets need to change, saying: “A key challenge of the 21st century will be recognizing that accelerating technological change is going to affect both employment and society.”

My Comment: It should be understood that the future occupation of all people, of all ages, will focus on organizing a unified social structure, a unified society. And manufacturing will be maintained only as needed for existence.

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