Economic opportunities for our avatars | Social Mobility in the Digital Age | L'Atelier
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Economic opportunities for our avatars | Social Mobility in the Digital Age | L'Atelier
Saved by sari and
The very success of economic growth in the Digital Age has laid several traps for an unwary world. The world economy is producing vast wealth, but failing in three other dimensions of sustainable development. Inequalities are soaring, in part because of the differential effects of digital technologies on high-skilled and low-skilled workers. Enviro
... See moreIndeed, the frightening reality is that if we don’t recognize and adapt to the implications of advancing technology, we may face the prospect of a “perfect storm” where the impacts from soaring inequality, technological unemployment, and climate change unfold roughly in parallel, and in some ways amplify and reinforce each other.
At least since the followers of Ned Ludd smashed mechanized looms in 1811, workers have worried about automation destroying jobs. Economists have reassured them that new jobs would be created even as old ones were eliminated. For over 200 years, the economists were right.
As the economies of more countries more deeply assimilate information technology, they will see the emergence—so evident already in North America—of a more or less unemployable underclass. This is exactly what is happening. This will lead to a reaction with a nationalist, antitechnology bias, as we detail in the next chapter.