Friday, February 1, 2013

More productivities less jobs

Never did an article from Thomas Friedman, a NY Times columnist, touch my heart so deeply from this 1/30 article. The surging of productivity is accompanied by the declining of household income. People with more skills and capital exploit more, much more, from the benefits of soaring productivity than the unskilled workers. Rapid technology advances shed substantial job opportunities; any jobs that machines can replace. Old generations only need diligence to be successful while younger generations need both diligence and skill, a skill that machine cannot replace, to be successful.

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