The Work World Is Changing and Society Needs To Change As Well

Posted on November 5, 2017

Written by John Slater

co-authored by Steven Hansen

We live in a time of great paradox. Technologies such as low cost renewable energy and automated
production tools promise a world of abundance in which global poverty is abolished and human
drudgery is eliminated. Yet even a casual glance at the daily news confronts us with a sense of
dread that, far from Utopia, we are instead headed toward a dystopian future in which the benefits of
technological advance will be reserved for a privileged few.

The disquieting consequence is that the bulk of humanity is relegated to scraping out a meager
existence in a mean-spirited world where jobs (and the prosperity they bring) are reserved for a
global elite trained to read the sacred texts of a new religion of technology.

Is the social contract of Western civilization, promising fair treatment and opportunity for all, which
took root in 18th century England and France and flowered in the post WWII democracies, destined
to fail? Just how will the world adapt to the current wave of technological advance which threatens
the jobs of today’s middle class much as Mr. McCormick’s reaper drove earlier generations from the
farms and into the factories of a prior era?

Econintersect has asked two contributors, John Slater and Steven Hansen, to discuss some aspects
of this conundrum concerning how and where automation and robotics will impact the new economy
and how social institutions, specifically education, can address these challenges.

John Slater is a Partner of FOCUS Investment Banking and Team Leader of the firm’s Advanced
Manufacturing and Automation practice, providing merger and acquisition and capital raising
services primarily for private middle market companies. He is a Chartered Financial Analyst and
holds an AB in economics from Princeton and a JD from the University of Virginia.

Steven Hansen, co-founder and Publisher … read the rest