Category Archives: Uncategorized

Sanders vs. Yang: Both are Good Candidates

Within the Democratic presidential primaries, the mainstream media tries its best to advance their favorite horse, a bland establishment candidate, who “feels the voters’ pain”, tells their stories, kisses their babies, wants “hope” and “unity” to prevail, and to do … Continue reading

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The Source of the College Cheating Scandal is Extreme Income and Wealth Inequality

50 parents of students, who have been wrongfully admitted because of college exam cheating or fake athletic scholarships (i.e. students classified as athletes even though they were not), have been charged by the federal government for fraud. This fraud was … Continue reading

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The Delayed Arab Spring in Algeria?

Podcast available here: https://soundcloud.com/user-280580802/22-the-delayed-arab-spring-in-algeria-3132019 Hundreds of thousands of Algerians have taken to the streets of Algeria, demanding President Abdelaziz Bouteflika, the 82 year old president, who has ruled the country since 1999, to step down. To the chagrin of the … Continue reading

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The Distinction between Task and Occupation Automation Is Politically Important

Podcast available here: https://soundcloud.com/user-280580802/19-the-distinction-between-task-and-occupation-automation-is-politically-important Michael Chui, the consultant at McKinsey focusing on the likelihood of automation of jobs, gave a lecture in a video two years ago, and reminded the audience that with existing automation technology only 5% of occupations … Continue reading

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High Inflation is Tied to Natural Scarcity, Baumol’s Cost ‘Disease’ and Bullshitization of Work

Podcast available at https://soundcloud.com/user-280580802/18-high-inflation-is-tied-to-natural-scarcity-baumols-cost-disease-and-bullshitization-of-work The wave of automation should suggest that prices in the economy should substantially decrease as increasing technological content that displaces workers should reduce the number of workers employed in that sector. Assuming that there is no … Continue reading

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Efficiency as a Curse?

The German philosopher Richard David Precht writes about the perils and opportunities of the robotics revolution as it will take many jobs and make a basic income necessary. He is very welcoming of automation but raises a fair question about … Continue reading

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Three Stages of Technological Change

Podcast available here: https://soundcloud.com/user-280580802/17-the-three-stages-of-technological-change-2182019 There are three stages of technological change affecting the workplace, which most economists have agreed on (excluding agricultural automation, which dates back to the earliest twentieth century): (1) in the 1980s, low-skilled jobs in manufacturing get … Continue reading

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