In order to address the problem of unemployment, many economists are looking back at the Industrial Revolution for answers. Big Idea #2: Job losses lead to broken cities, broken communities, and broken families. Even if all white-collar workers are forced to find new work in the future, low income earners without a college degree will be left behind because they don’t have any other skills that can help them get a job in today’s world. Technology has made it possible to automate many jobs. Many factory jobs, cashier jobs, customer service representative positions and fast-food chain employee roles will be eliminated by automation. It is projected to eliminate millions of jobs in the next decade or so. According to a report published by Obama’s administration in 2016, 83 percent of jobs that pay less than $20 per hour could face automation or replacement.Īutomation has displaced many workers in the past few years. He calls this phenomenon the Great Displacement, and unlike many economic situations, it isn’t something that can be solved by the market. Yang predicts that automation will be a big issue in the future. The US labor force participation rate is lower than most industrialized countries because many workers can’t find jobs.
Technology will eliminate millions of jobs and make it difficult for people to find work. Instead, it values efficiency and cost cutting measures that make the market perform better.Īccording to Yang, the future is bleak. Our capitalist system has given us technology like smartphones, but it doesn’t value most people’s lives.
In contrast to the educated class, average Americans tend to live paycheck-to-paycheck. If they all went to college, then you’re part of a privileged socioeconomic group in the U.S., as most people don’t finish college. Big Idea #1: Advances in technology and market-driven capitalism have left America on the brink of mass unemployment. You’ll find out why Richard Nixon’s plan for a guaranteed income failed in the 1970s why empty malls lead to broken cities and how capitalism is better when it values humans. In this article, you’ll learn about the challenges Americans are facing today and how to fix them. On top of this, he realized that our economy is on the brink of a mass unemployment crisis driven by unprecedented technological advances. He noticed that despite the fact that these people were facing major difficulties accessing healthcare and education, many communities were struggling with issues related to drug addiction. The founder of Venture for America, Andrew Yang, often traveled to cities like Baltimore, Detroit and New Orleans.
1-Page Summary of The War On Normal People Overview
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