Automation will CREATE JOBS, not DESTROY them ! Amazing tech.

Enough of doom and gloom and hype ! I am tired of hearing of how my beloved technology will cause grief and despair.

Serious economists such as Dr. David Autor of MIT and Dr. James Bessen of Boston University say that automation and technology has always lead to creation of new jobs all throughout history. Source: Be Calm, Robots Aren’t About to Take Your Job, MIT Economist Says.

A study by a group of scientists-economists from Deloitte also confirms this. Technology and people: The great job-creating machine ( Ian Stewart, Debapratim De, Alex Cole).

There is so much evidence that it will fill a football field with 9 yard paper stacks.

The auto industry displaced people who tended to horses but instead created auto-mechanics, engineers, drivers, auto part plants, etc etc.

Dr. Bessen says that ATMs were supposed to reduce the number of bank tellers. ATM actually increased number of bank tellers by 100%. The more effective operation led to creation of more bank branches.

He says the problem that automation creates is not of unemployment, but of moving masses of people from one profession to another.

Bessen further says that automation will increase income inequality: HBR:Computers Don’t Kill Jobs but Do Increase Inequality.

So if your want your children to earn more - get them off Facebook and make them go to higher ed. The value of good education is not teach them any specific skill but to give them abilities to acquire new skills and knowledge easily and quickly.

The skills of today may be not needed, people will always be in need.

Let's relax and feel good about the future.

There will be more jobs in health, food tech and production, construction (more people, more housing), teaching, infrastructure, law enforcement, entertainment, waste management and pollution control, and my IT industry.

New types of professions will appear that we are not seeing yet - in augmented reality, bio tech, health, to name a few.

So why is there so much hype about job destruction by automation ?

As Benjamin Franklin discovered, there is no better news than bad news. If he lived today he would have said that fake bad news work even better.

That's what people click on - titles like "Your job is gone tomorrow". Those articles go viral because they get clicked-on and argued about.

Articles such as this one typically collect about 15 likes. I think I will get 20 likes for this article.

What is your prediction for new professions of 2025 ?

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