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Obama must face the rise of the robots

Posted By admin On February 4, 2013 @ 6:13 am In Money Watch | Comments Disabled

Edward Luce
FT.com [1]
Feb 4, 2013

Early in his first term Barack Obama joked [2] that he would “keep an eye on the robots in case they try anything”. He should have known resistance is futile. During Mr Obama’s presidency, IBM’s Watson has proved computers can outfox the most agile minds, drones have become America’s weapon of choice, the driverless car is now a reality and the word “app” has been detached from its origin. No longer the realm of science fiction, the rise of robots now poses the central economic dilemma of the Obama era.

With each month, the US economy becomes steadily more automated. In January the US economy added just 4,000 manufacturing jobs [3], and the net increase since July is zero. Yet last month, manufacturing activity rose by its fastest rate since April, according to the Institute for Supply Management [4]. The difference boils down to robots, which pose an increasingly nagging paradox: the more there are, the better for overall growth (since they boost productivity); yet the worse things become for the middle class. US median income has fallen in each of the last five years [5].

Full article here [1]


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URLs in this post:

[1] FT.com: http://www.ft.com/cms/s/0/f6f19228-6bbc-11e2-a17d-00144feab49a.html#axzz2JvaQR9vh

[2] joked: http://www.dailykos.com/story/2009/11/23/807248/-Remarks-by-the-President-on-STEM

[3] the US economy added just 4,000 manufacturing jobs: http://ftalphaville.ft.com/2013/02/01/1367412/january-payrolls-157000-unemployment-rate-7-9-per-cent/

[4] according to the Institute for Supply Management: http://www.ism.ws/ismreport/mfgrob.cfm

[5] has fallen in each of the last five years: http://www.ft.com/cms/s/0/ed14fc70-fc51-11e1-aef9-00144feabdc0.html

[6] Robots Replace Waiters in China: http://www.prisonplanet.com/robots-replace-waiters-in-china.html

[7] Rise Of The Droids: Will Robots Eventually Steal All Of Our Jobs?: http://www.prisonplanet.com/rise-of-the-droids-will-robots-eventually-steal-all-of-our-jobs.html

[8] The End Of Humanity: Rise of the Robots: http://www.prisonplanet.com/the-end-of-humanity-rise-of-the-robots.html

[9] Music Video Exposes Rise of the Robots: http://www.prisonplanet.com/music-video-exposes-rise-of-the-robots.html

[10] Robots Will Do Everything You Do Now Only Better – What Then?: http://www.prisonplanet.com/robots-will-do-everything-you-do-now-only-better-what-then.html

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