About 5 years ago

05/12/2017 - Midnight Reads – False Alarmism: Technological Disruption and the U.S. Labor Market

False Alarmism: Technological Disruption and the U.S. Labor Market

– Information Technology & Innovation Foundation     

We always hear that robots are taking jobs. Now a report by the industry-supported Information Technology and Innovation Foundation provides a counter perspective. It says that 165 years of U.S. labor history show job churn is lower than in the past, suggesting that technology’s impact isn’t as pronounced as many think.

 

You’re Not Getting a Raise and Nobody Knows Why

– The Washington Post 

As the economy continues to heat up and companies create more job opportunities, employers should eventually have a harder time finding the caliber of workers that they want. In theory, companies will have to start offering pay increases to attract good workers. But in practice, wage growth has remained relatively sluggish. As the Economic Outlook Group pointed out, “2.5 percent is precisely the same wage growth seen in 2009, when the jobless rate stood at 10 percent – twice the current level.”

 

Auto Loan Fraud Soars in a Parallel to the Housing Bubble

– Bloomberg 

Fraud rates are steadily rising in auto loan applications. Why should that worry us? During the housing crisis in 2009, fraud rates in the mortgage lending market exceeded the 1 percent threshold, and auto loans are getting ever closer to that level, with total fraud expected to double from about $2-3 billion in 2015 to $4-6 billion in 2017.

 

The Next Great Experiment

– The Atlantic 

We are living through a period of profound technological change. Along with the rise of bioengineering, networked devices, autonomous robots, space exploration, and machine learning, the mobile internet is recontextualizing how we relate to one another, dramatically changing the way people seek and share information, and reconfiguring how we express our will as citizens in a democratic society. We asked more than two dozen people who think deeply about the intersection of technology and civics to reflect on two straightforward questions: Is technology hurting democracy? And can technology help save democracy?