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"Race Against the Machine deserves praise for jump-starting an important discussion about the effect of technology on our economy. As the authors point out, the impact of computers and information technology has been largely left out of most analysis regarding causes of our current unemployment woes. This book, therefore, is an attempt to “put technology back in the discussion.”"
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A human-machine combo has the potential to be much more powerful than either a human or machine alone. So therefore it’s not simply a question of machines replacing humans. It’s a question of how can humans and machines best work together.
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Moreover, as I’ve written about before on this site, the human-machine partnership can sometimes be less than the sum of its parts.
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Becoming a supplier to a large business can be just a pain, particularly if you are a small business. The overhead involved can even consume more time and effort than the actual work itself. When you consider that in the US 70% of our businesses are small and medium sized, this is a large scale headache. More so, what is crucial is that small businesses hire employees faster. The White House Blog indicated that: “after a small supplier lands a big purchase order or a contract from a bigger company, the small company’s revenues go up 250% and they create about 150% more jobs in just two or three years.”
To get a stalled economy moving again, improving the purchasing process in large businesses particularly in relation to hiring small suppliers would do wonders for everyone. Within these processes, there can be small changes that can create large waves of transformations that help to open up the economy."
"Societies have never been good at moving from one big tech-induced change to another. The industrial revolution wrought havoc on populations. Production lines were thought to dehumanise people, and modern agriculture is still vilified, instead of being celebrated. And people now worry that technology will drive us towards some singularity where people are no longer required."
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We are talking mass unemployment, people replaced by machines, old ways and conventions abandoned, history and tradition rendered worthless
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Many cite oppressive and excessively demanding management regimes. And certainly the evidence is that the ratio of managers to active contributors and material expenditure has grown excessively, as depicted in this graph for one first-world nation.
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"There's mounting evidence that Moore's Law applies to commodity work -- labor that can be produced by many different individuals with a minimal amount of training. It's difficult to distinguish the output of one commodity worker from another, just as it is difficult to differentiate wheat grown on one farm from wheat grown on another. If Moore's Law applies to commodity work, commodity workers are in big trouble."
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Noyce maintained that the proper way to measure the industry's productivity was to measure output not in dollars but in transistors per employee. By that measure, our productivity was growing at 40 percent per yea
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I suspect that just as the number of transistors in an integrated circuit continues to grow at an exponential rate, commodity workers using computers and the Internet are increasing their productivity at an exponential rate.
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"A faltering economy explains much of the job shortage in America, but advancing technology has sharply magnified the effect, more so than is generally understood, according to two researchers at the Massachusetts Institute of Technology. "
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The authors are not the only ones recently to point to the job fallout from technology. In the current issue of the McKinsey Quarterly, W. Brian Arthur, an external professor at the Santa Fe Institute, warns that technology is quickly taking over service jobs, following the waves of automation of farm and factory work.
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John Maynard Keynes warned of a “new disease” that he termed “technological unemployment,” the inability of the economy to create new jobs faster than jobs were lost to automation.
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"The cognitive schemas are studied with cognitive maps. The maps of three groups of individuals are compared: “Generation Y” before (N = 160) and after their initial recruitment (N = 127) and employees of the previous generation (N = 113).
The results show that the cognitive schemas of Y employees don’t differ from those of members of the previous generation. They differ, however, from those of the Y students. The results tend to shows that the Y’s schemas don’t depend on their generational membership."
And here's the irony. Despite a slowdown in immediate career opportunities, the current financial crisis is likely to reinforce the overall happy, fortuitous economic life of Generation Y.
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And unlike Boomers, who are racing to build up a nest egg before retirement hits and in many cases trying to make up for a life of limited savings, Y's have no such time pressure. The key job challenge for Y's in this job market will be to find the challenging opportunities for learning that they crave. In many ways, their greater financial flexibility may give them an advantage over older generations for some of the interesting opportunities.
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