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A comment on Why Are There Still So Many Jobs? The History and Future of Workplace Automation [pdf]. Parent comment

Re:Why Are There Still So Many Jobs? The History and Future ... by justonepost on Monday August 03, 2015 @06:03PM (#10000219)
A lot of "bullshit" jobs also exist because of low interest rates. As unemployment due to automation increases, the central banks lower interest rates (lower rates are used to increase employment). So when all this free money floats around it allows companies to invent jobs that really don't need to exist.

As soon as rates are allowed to increase, as has happened a couple times over the last 15 years, unemployment will sky rocket harsh and we will see the results of automation.

For now, however, the tide is in and the naked are hidden.

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Re:Why Are There Still So Many Jobs? The History and Future ... by tmrgn on Monday August 03, 2015 @06:58PM (#10000469)
Shouldn't we rather expect a lot of "bullshit investment" and automation first in a situation of "free money"?
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Re:Why Are There Still So Many Jobs? The History and Future ... by justonepost on Monday August 03, 2015 @07:16PM (#10000538)
Lot of that happening as well!
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Re:Why Are There Still So Many Jobs? The History and Future ... by justonepost on Monday August 03, 2015 @06:14PM (#10000276)
Check this out: Watch what happens whenever they try to raise interest rates: https://www.stlouisfed.org/Publications/Regional-Economist/A...
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