U.S. workers are so scarce that Taco Bell is offering $100,000 salaries for store managers. But before a tight labor market can lift all workers, it may be too late. There's another group that's increasingly benefiting from low unemployment—robots, and they're coming for almost everyone's job. Samsung just demonstrated "a virtual simulation of a human intelligence that learns, converses and sympathizes like a regular person." The company envisions them serving as friendly companions, flawless TV anchors and unflappable yoga instructors. Automation is shaping up to be the next great equalizer (though maybe not in the way we would want), taking over for white-collar professionals and factory workers alike. Let's hope that all that downtime feels more like vacation than, say, being out of work. —Philip Gray Did you see this? Just as the Harvey Weinstein rape trial begins in New York, new sexual assault charges against the ex-movie mogul were filed in Los Angeles. India's Muslims are living in fear as police raid their communities at night. The government of Narendra Modi is trying to crush protests against his widely condemned citizenship law, which is seen as discriminating against Muslims. The National Football League's so-called Rooney rule has led to a lot of minority candidates being interviewed for head coaching positions. But the NFL's coaching roster is nevertheless getting even whiter. Britain's Conservative government, led by Prime Minister Boris Johnson, proclaimed that it wants to hire people with what it calls "true cognitive diversity" rather than "gender identity diversity blah blah." A very rich man can't own this California beach, but he is defending his right to decide who drives across his property to reach it. Psychedelics are a step closer to U.S. Food and Drug Administration approval, Bloomberg Businessweek reported, a potential lifeline for the 30% of clinical depression patients who aren't helped by therapy and SSRIs. We love charts California ended the past decade with one million fewer young people while Texas's youth population grew. A decline in immigration is partly to blame, but birth rates are the bigger story. Where are all the nonwhite economists? The field of economics works hard to keep out minorities and to make life miserable for those who make it in anyway. That's the picture painted by many attendees of the American Economic Association meeting in San Diego last week. "Such discrimination wastes talent," former Federal Reserve Chair Janet Yellen told the group. "It is also deeply unfair." The obstacles are hardly new; a caucus of black economists gathered 50 years ago to highlight the field's discrimination. But there has been some progress: Unlike 50 years ago, this AEA meeting didn't have police standing by in case the black economists rioted. |
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