General Discussion
In reply to the discussion: Fast-Food CEO invests in machines because screw the employees [View all]Xolodno
(7,357 posts)...its responding to market inefficiencies in the economy.
And yeah, sure some service sectors (plumbers, etc.) won't be phased out. A good education doesn't guarantee you a spot, not a whole lot of demand for Philosophers. So better education is needed on "what" you can do with a degree and what pay levels, difficulty, etc.
And don't dismiss a higher education out right, studies have shown a higher skilled work force is more flexible and adaptive. And has given rise to new industries, companies, etc.
China is a "planned" economy, in your previous post of "guaranteed income, etc.", believe it or not, you were essentially advocating doing what they are.
You can't stop progress, granted the Koch brothers are trying to do that with their fossil fuel portfolio, but eventually, they will fail. Its simple economics. Hell, in the insurance industry, they are preparing for the day in the long term when Auto Insurance will be a very minor portion of their portfolio as to major today. Why? Driver-less and electric cars, they know they are coming, its just a matter of when.