TIL: Today I Learned
- Thread starter Cutlass
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Lentil soup and good bread make a wonderful combination.
hobbsyoyo
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TIL: In 1980 if you created 25 new jobs you would add $1M to the GDP. To add that same $1M today it takes 3.5 workers (constant dollars).
Zkribbler
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Inflation isn't the responsibility of the President but rather of the Fed.
hobbsyoyo
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Then like it maybe?
But the Fed isn't DNC and the Prez was.
I do actually like this tiny little rock.Then like it maybe?
You missed the point. Economic growth is what makes us richer as a nation (and yes, it is not spread evenly) but in the past we did that by creating jobs faster than our population grew. Now growing the US economy does not require significant job growth. A couple of things are happening: Fewer human workers are needed and we are not training people in the new skills they will need to be useful workers in the future. The unemployed and underemployed will grow. There are about 260,000 robots working in North American factories and that is growing about 10% a year. They are not counted as part of the workforce. On top of that our phones and computers are doing things that people used to do for us and get paid to do it. The long time US policy of striving for full employment as a way to fuel economic growth will have to change.
oh....
The ones from the 60s were better: Spy vs Spy, Don Martin's work, I grew up on those.Yeah, I've been reading old issues of MAD magazine from the early '80s.
I have some of the books (Don Martin bounces back!, Brothers Mad, etc.) stacked around the place.
So I am not sure that I can say I grew up, except for that thing I'm doing where I do things that get me paid instead of playing videogames.
So I am not sure that I can say I grew up, except for that thing I'm doing where I do things that get me paid instead of playing videogames.
On the roughly 150 million people engaged in labor in the US, that 260,000 is still a fraction, but indeed the consequences in our coming decades are announcing themselves if you see it.
It will also influence international trade: when developed countries get more robotised, they do not need to import anymore cheap labor in products from cheap labor countries to increase the efficiency of their economy and the buying power of their people. => the fast track for poorer countries to catch up with the developed countries will diminish in importance over the coming decades.
In the current "system" there is no clear pay back pathway for a higher level of general invests in human workers by updating their education/traing while they are working. No good enough allignment between the paying and benefitting parties that realises high enough "education permanente" (it comes mostly down to individual actions). No good enough insight in the new skill sets needed. Not enough sense of urgency that the effective window of learning starts to disappear after people are 40 years old. Most young people happy to harvest their educational advantage in consumerism the first period of working instead of spending 1-2 evenings per week taking courses (which also helps to extend your effective learning window).
I see many ways possible to tackle this from societal initiatives, but those depend very much on the country culture, including the desire of that culture to mitigate/prevent the income group divide effect of AI.
A hire and fire culture, a job hopping culture not helpful.
Zkribbler
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The original budget projected for Waterworld was $3 million. The studio rejected it, saying the cost would be closer to $5 million.
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