{"id":124314,"date":"2021-06-26T19:23:05","date_gmt":"2021-06-27T02:23:05","guid":{"rendered":"https:\/\/lifeboat.com\/blog\/2021\/06\/artificial-intelligence-has-caused-a-50-to-70-decrease-in-wages-creating-income-inequality-and-threatening-millions-of-jobs"},"modified":"2021-06-26T19:23:05","modified_gmt":"2021-06-27T02:23:05","slug":"artificial-intelligence-has-caused-a-50-to-70-decrease-in-wages-creating-income-inequality-and-threatening-millions-of-jobs","status":"publish","type":"post","link":"https:\/\/lifeboat.com\/blog\/2021\/06\/artificial-intelligence-has-caused-a-50-to-70-decrease-in-wages-creating-income-inequality-and-threatening-millions-of-jobs","title":{"rendered":"Artificial Intelligence Has Caused A 50% To 70% Decrease In Wages\u2014Creating Income Inequality And Threatening Millions Of Jobs"},"content":{"rendered":"<p><\/p>\n<p><iframe style=\"display: block; margin: 0 auto; width: 100%; aspect-ratio: 4\/3; object-fit: contain;\" src=\"https:\/\/www.youtube.com\/embed\/qkt-iphB40U?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; encrypted-media; gyroscope;\n   picture-in-picture\" allowfullscreen><\/iframe><\/p>\n<p>Ut ohh.<\/p>\n<hr>\n<p>The middle and working classes have seen a steady decline in their fortunes. Sending jobs to foreign countries, the hollowing out of the manufacturing sector, pivoting toward a service economy and the weakening of unions have been blamed for the challenges faced by a majority of Americans.<\/p>\n<p>There\u2019s an interesting, compelling and alternative explanation. According to a new academic research study, <a href=\"https:\/\/www.nber.org\/papers\/w28920\" target=\"_blank\" class=\"\" title=\"https:\/\/www.nber.org\/papers\/w28920\" rel=\"nofollow noopener noreferrer\" aria-label=\"automation technology has been the primary driver in U.S. income inequality\">automation technology has been the primary driver in U.S. income inequality<\/a> over the past 40 years. The report, published by the<em> <\/em>National Bureau of Economic Research, claims that 50% to 70% of changes in U.S. wages, since 1980, can be attributed to wage declines among blue-collar workers who were replaced or degraded by automation.<\/p>\n<p>Artificial intelligence, robotics and new sophisticated technologies have caused a wide chasm in wealth and income inequality. It looks like this issue will accelerate. For now, college-educated, white-collar professionals have largely been spared the fate of degreeless workers. People with a postgraduate degree saw their salaries rise, while \u201clow-education workers declined significantly.\u201d According to the study, \u201cThe real earnings of men without a high-school degree are now 15% lower than they were in 1980.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ut ohh. The middle and working classes have seen a steady decline in their fortunes. Sending jobs to foreign countries, the hollowing out of the manufacturing sector, pivoting toward a service economy and the weakening of unions have been blamed for the challenges faced by a majority of Americans. There\u2019s an interesting, compelling and alternative [\u2026]<\/p>\n","protected":false},"author":359,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[39,32,1878,6],"tags":[],"class_list":["post-124314","post","type-post","status-publish","format-standard","hentry","category-economics","category-education","category-employment","category-robotics-ai"],"_links":{"self":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/posts\/124314","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/users\/359"}],"replies":[{"embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/comments?post=124314"}],"version-history":[{"count":0,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/posts\/124314\/revisions"}],"wp:attachment":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/media?parent=124314"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/categories?post=124314"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/tags?post=124314"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}