The Jobless Future

This article (via Mark Thoma) is about a book called "The Jobless Future" which described the underlying dynamics that would shrink the number of jobs that could provide a middle class living standard. After, rather accurately predicting what we have been seeing in the jobless recovery, the book turns to steps that might be taken to provide meaning and worthwhile activities for individuals whose identity has been linked to their occupation. In a sense, the forces that required fewer workers to produce the products that we consume, sets the stage for developing an economy that takes advantage of the "end of scarcity". This will present challenges to a system of economics based upon an assumption of scarcity. The recommendations made in the book are diametrically opposed to our current political trend which minimizes the role of the state. If our our economy is moving in the direction predicted, it might serve to describe the two poles that we are observing. Some will work even harder to cut taxes and limit efforts by the state to mitigate the economic impact of these forces, since they have little concern for a broader based system of social welfare. Others will struggle to expand the activities of the state which might take advantage of the "end of scarcity".