03-10-2015, 09:58 AM
According to a Federal Reserve post written by Tomaz Cajner and David Ratner, the prospects for the long-term unemployed are still relatively dim.“Their monthly probability of moving from unemployment to employment has recovered only modestly and still remains depressed relative to its pre-recession level… The long-term unemployed are about twice as likely to move to nonparticipation (that is, to drop out of the labor force) as to employment.”
What 27 Weeks of Unemployment Does to the American Worker - Yahoo Finance
Some robots do not cause a productivity explosion because they replace low productivity workers and the quality of the task done does not improve much after the initial introduction of robots. The automated equipment that turns a worker into a zero marginal productivity (ZMP) ex-worker does not need to offer a large and growing impact on the firm's total productivity. It just has to lower total costs.
FuturePundit: Thinking About Robots And ZMP Workers
It’s easy to mock the beards, tattoos and fixed-wheel bicycles of east London, but its ‘flat white economy’ is here to stay. Ed Cumming on the revolution that’s changing Britain
Can hipsters save the world? | UK news | The Guardian
Perhaps the greatest threats to American pre-eminence are domestic. As pundits often point out, young American workers score terribly on cross-country comparisons of numeracy, and Americans are disillusioned with their government.
Why the end of American power is not nigh - Business Insider