One of my heroes is New York Times Columnist Thomas Friedman. In a recent column he summed up why unemployment is so high and why there is so much economic malaise in a few sentences. "The merger of globalization and IT is driving huge productivity gains, especially in recessionary times, where employers are finding it easier, cheaper and more necessary than ever to replace labor with machines, computers, robots and talented foreign workers....to get into the middle class now, you have to study harder, work smarter and adapt quicker than ever before..Not only does it take more skill to get a good job, but for those who are unable to raise their games, governments no longer can afford generous welfare support or cheap credit to be used to buy a home for nothing down."
No comments:
Post a Comment