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Category: employment – Page 78

People Versus Machines: The Impact of Minimum Wages on Automatable Jobs

Automation, unemployment, & low wage workers

We study the effect of minimum wage increases on employment in automatable jobs – jobs in which employers may find it easier to substitute machines for people – focusing on low-skilled workers from whom such substitution may be spurred by minimum wage increases. Based on CPS data from 1980–2015, we find that increasing the minimum wage decreases significantly the share of automatable employment held by low-skilled workers, and increases the likelihood that low-skilled workers in automatable jobs become unemployed. The average effects mask significant heterogeneity by industry and demographic group, including substantive adverse effects for older, low-skilled workers in manufacturing. The findings imply that groups often ignored in the minimum wage literature are in fact quite vulnerable to employment changes and job loss because of automation following a minimum wage increase.

You may purchase this paper on-line in.pdf format from SSRN.com ($5) for electronic delivery.

Falling Robots Are Funny, but That’s How They’ll Learn to Take Your Job

New clip of ATLAS, having some problems but interesting to see.

If at first you don’t succeed, try again—and, if you’re a robot, again and again and again and again and again and again. Because it’s worth remembering that unlike many humans, automatons will keep at a task until they do achieve success.

This GIF of Boston Dynamics’s Atlas robot taking a tumble, sliced from a TED talk published Monday, has gone viral. Presumably, that’s because when humans aren’t fretting about how they’ll steal our jobs, we sure do seem to enjoy laughing at robots falling over.

But robots are tenacious: failures don’t demoralize them the way they do humans. So you can bet that Atlas carried on trying to nail the task of moving a box for hours, and then shared its learnings with all its buddies so that none of them make the same mistake in the future. (And at any rate, the robot that steals your job is unlikely to be a humanoid.)

This Economic Model Organized Asia for Decades. Now It’s Broken

Pan’s company is at the vanguard of a trend that could have devastating consequences for Asia’s poorest nations. Low-cost manufacturing of clothes, shoes, and the like was the first rung on the economic ladder that Japan, South Korea, China, and other countries used to climb out of poverty after World War II. For decades that process followed a familiar pattern: As the economies of the early movers shifted into more sophisticated industries such as electronics, poorer countries took their place in textiles, offering the cheap labor that low-tech factories traditionally required. Manufacturers got inexpensive goods to ship to Walmarts and Tescos around the world, and poor countries were able to provide mass industrial employment for the first time, giving citizens an alternative to toiling on farms.

Automation threatens to block the ascent of Asia’s poor. Civil unrest could follow.

The Scary AI Revolution Will Decimate Jobs and Might Cause World War III: Jack Ma

Jack Ma, founder of Chinese e-commerce behemoth Alibaba and one of the world’s most successful entrepreneurs, says he worries about the scary Artificial Intelligence revolution. Artificial Intelligence could decimate middle-class jobs and might cause World War III, but it could also be the opportunities to build new companies and change the current status quo of Africa. He believes that AI will be smarter than human and in the future we will make robot more like human.

He spoke to young African at the University of Nairobi and encourage African Entrepreneurs “When I arrived, I found the internet speed in Kenya is faster than in United states, and you will build even better infrastructure and build the future of Africa because entrepreneurship is the best philanthropy to help the society.”