An aging workforce and automation might be creating an economic storm
- While an aging workforce reduces potential supply growth, automation is increasing it — together, these could cause long-run turbulence.
- Some analysts think machines will displace 40 million workers by 2030, which could negate any increased demand caused by automation.
- Replacing workers with machines would further reduce labor's share of GDP, which is already declining.
We’ve just wrapped the Strategic Investment Conference, which in many ways is the best week of my year. Seeing so many old friends, making new ones, and having countless fascinating conversations is my idea of heaven.
On the other hand, this particular heaven is also exhausting. I’ve been running at full power 24/7 since Monday. Thankfully, I’ve had Shane and the rest of our conference team to keep me at least running in the right directions. Nevertheless, I need some time to assimilate all this new data before I give you my conference wrap-up. We’ll do that next week, although I will give you a few first impressions at the end of this letter, which will be the shortest I have done in many years.See the rest of the story at Business Insider
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