For the back half of the 20th century (what Fortune founder Henry Luce called “The American Century”), MBA and law degree programs were a ticket to a great office job and a path to the American Dream. The 21st century is asking the question: What happens when all those office jobs get automated?..
I mean, the idea that all white-collar jobs could be automated is obviously stupid. But even if just 50% could be made redundant by increased productivity, or 20%, that would generate enormous downward pressure on wages and salaries and turn this kind of job into college-degree burger flipping, economically.
The world went through the very similar blue-collar job destruction in the 80s and 90s. Back then, Conservatives decided this was all a Very Good Thing, and Neoliberals shrugged. The made vast swaths of industrial areas suddenly derelict and impoverished. It’s hard to believe that Detroit was once one of the wealthiest cities in America.
We must tax companies that use AI to reduce workforce to offset cost benefits. Society will have to deal with the suddenly impoverished accountants and lawyers and needs extra revenue.
The worst part of this AI revolution is that it affects most directly those that have the least experience, as it’s easier to replace an entrant with software. Yet another way young people are screwed, yet another way society absolutely needs to step in to make sure the next generation has a fighting chance.
And now it’s $80 an hour or more to hire a plumber. This is a bad deal no matter how you slice it.
And the commenter above is correct. If AI could do these jobs, so could cheap labor overseas. So the $80 an hour plumber is much more likely than the outsourcing that resulted in the destruction of Detroit as. manufacturing hub.
it would likely generate no-college graduates. even now some schools have enrollment issues, due to job prospects of already graduates telling thier friends/family entering college how bad it is.
I can’t even begin to imagine what it must feel like to start college, to take on tens of thousands of dollars of debt, and not to have the faintest idea if there is actually going to be a job at the end of all that work. At least, where I live college is almost free.
if you looked at the reviews on yelp(yes i visit that, it was insightful to say the least of past students) in schools around you, or the one you graduated definitely not a good sign, at least for state school in the west. they got so desperate that they are reaching out to HS students not even close to graduating, and if they complete certain courses, they are guaranteed acceptance, when before it was the standard 3.0+ gpa and sat scores.(only some state schools, UC and Uni arnt affected that i know of).
back '12 now i know why a student i know at the time wanted to transfer out of the state school asap.