Richard Baldwin on the “inhumanely fast” next phase of globalization
&gt; <i>Q: Several studies show technology will disrupt jobs, but they also argue that almost as many jobs will be created.</i><p>&gt; <i>A: There’s a mismatch of job displacement and job creation. Job displacement is being driven at the speed of digital technology, which is explosive at this moment. And displacement is the business model for the AI geniuses and all those companies. All of them are hoping to get rich by displacing workers, not by creating jobs. Creating jobs is much slower. So, at least in the next few years, the displacement will outstrip the creation. But it’s not the direction of travel which is wrong. It’s just a mismatch of speed.</i><p>Citation needed. There&#x27;s zero evidence that &quot;creating jobs is slower.&quot; People have been saying this every year for well over a century, and yet unemployment is quite low right now in the US.<p>It&#x27;s one of those things that seems logical -- but all evidence is to the contrary. And it&#x27;s probably because it&#x27;s a lot easier for the human brain to spot a huge loss of jobs in one industry, than a small increase across many industries that adds up to the same size.<p>Also, the jobs can <i>already exist</i> but just not be filled. We don&#x27;t necessarily need to wait for them to be &quot;created&quot;.