With COVID-19 wiping out many jobs and unemployment is like 20% and rising I think we have 2 shitty things we will have to deal with.
1. A bigger job market means less job security and more power given to those in power. Forcing people to do more work under the threat of finding an easy replacement.
2. Companies that still employ people but had to do layoffs will try to replace those jobs with automation
I get this from the book The Second Machine Age (recommend), where two MIT economists go around to many of the top technology companies in the U.S around 2013 and speak about the desire to automate many routine tasks. An excerpt from the book is an admission from one CEO about the last recession.
The last 10 years has been filled with a crazy amount of technological progress especially in the business side. This would be the perfect time to replace people with technology as you can even mask it with health reasons in certain industries and for others you already had to lay people off from no fault of your own.
1. A bigger job market means less job security and more power given to those in power. Forcing people to do more work under the threat of finding an easy replacement.
2. Companies that still employ people but had to do layoffs will try to replace those jobs with automation
I get this from the book The Second Machine Age (recommend), where two MIT economists go around to many of the top technology companies in the U.S around 2013 and speak about the desire to automate many routine tasks. An excerpt from the book is an admission from one CEO about the last recession.
Basically this says that one CEO they spoke to said that they knew that automation for certain jobs existed but its hard to fire someone and flat out replace them with a machine, especially when profits are going up. However after the recession it was easier to replace the already lost jobs with technology as more money has been made.A few years ago, we had a very candid discussion with one CEO, and he explained that he knew for over a decade that advances in information technology had rendered many routine information-processing jobs superfluous. At the same time, when profits and revenues are on the rise, it can be hard to eliminate jobs. When the recession came, business as usual obviously was not sustainable, which made it easier to implement a round of painful streamlining and layoffs. As the recession ended and profits and demand returned, the jobs doing routine work were not restored. Like so many other companies in recent years, his organization found it could use technology to scale up without these workers.
The last 10 years has been filled with a crazy amount of technological progress especially in the business side. This would be the perfect time to replace people with technology as you can even mask it with health reasons in certain industries and for others you already had to lay people off from no fault of your own.