In the short term jobs will be coming back to America because it is cheaper to make something here versus elsewhere. If you factor into manufacturing an increase in labor cost in other countries and the shipping fees it’s cheaper to build here. But what about 20 years from now.
What will the future be 20 years from now?
So as we look into the future economy and see jobs being replaced by robots and automation what happens to all those workers?
No jobs means we will all be living in abject poverty or utopia. It will depend on which government is in control. Europe and Canada with a more social learnings will most likely be utopia. Communist leaning governments might own all production and redistribute resources back to some people. Capitalist leaning countries might look a lot like Haiti. A few wealthy people with personal armies to protect them. It will all depend on the government we pick.
The Change is coming;
With jobs lost to automation and robots economic systems will have to change. When people don’t have jobs and live in poverty the country will be in a state of unrest and chaos. That’s the formula for civil wars.
Maybe the future will be great for our grand kids because if the right government is in place. They will be able to do some things we can’t do now because they’ll have the time. Right now we all have to work. If people have food, homes and medical needs met then they can pursue other things; Arts or good deeds.
Capitalism might be the worst system in the future. Capitalism favors just a few people in a country. Think about it, your grand kids will be living it!
For another idea on the future of jobs
read Robert Gordon thoughts on jobs.
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Rick Mercier 2020