Embrace the robot that wants your job

pablo (32).png

The Passion Economy author Adam Davidson on why that’s a good thing.

Deanna Isaacs in Chicago Reader writes: "It goes like this: although robots and AI are going to eat our current jobs, we'll get an unprecedented opportunity to turn what we love to do into our source of income. Davidson provides a set of eight rules to guide us in this endeavor, and a collection of happy stories about folks who are already doing it."

Davidson told her, but here's the difference: "The 20th century economy rewarded being the same, suppressing whatever made you weird and interesting. But this economy doesn't reward that. This economy has shifted far more in the direction of rewarding uniqueness. So broadly speaking, more passion is more possible."

"I'm certainly not arguing that we're just going to flip a switch and everyone is going to get to do whatever it is that they happen to want to do," Davidson added. "But I think of my great grandmother who came to Chicago in 1908 and got a job as a seamstress, and never particularly liked it, and never had an opportunity to even think about, 'Is this something I want to do?' I think we've already come a long way, and we will come even farther. This economy offers that opportunity.

"There's a lot of people who think they're screwed, who are not at all screwed, who actually could both have more fun and make more money than ever before."

Full post - here.

What do workers think about automation?

pablo (31).png

Automation, skills and the future of work

The IMF survey contains information on how 11,000 workers across advanced and emerging market economies perceive the main forces shaping the future of work.

n general, workers feel more positive than negative about automation, especially in emerging markets. The IMF found that negative perceptions about automation are prevalent among workers who are older, poorer, more exposed to job volatility, and from countries with higher levels of robot penetration.

Full post - here.

Alexander Privitera: Could central banks develop their own digital currencies?

pablo (36).png

Central banks have a somewhat more complex raison d’être, hence the growing consensus among them that it may be necessary to step in.

In a recent letter to members of the European Parliament, the president of the European Central Bank, Christine Lagarde, recognized that “stablecoin initiatives such as Libra aim to overcome shortcomings in cross-border payments. … At the same time … innovations — including stablecoins — will only be beneficial if the associated risks are mitigated through effective regulation and oversight.”

Full post - here.