Mish: Reader Question on Robots: What are People Supposed To Do For Their Livelihoods?
One could have asked the same question right before the railroad boom-bust, right before the great depression, right before the internet boom-bust, and right before the housing boom-bust.
As seen in the following chart, those who asked right before the internet boom-bust are still asking the same question, and rightly so.
Click to enlarge.
So here we are. Unless it's different this time, there will be another advance of some kind that is highly likely to create jobs. I cannot say what or when.
What if it is different this time? I'm certainly a believer that it is. Then what? I was hoping Mish would have an answer for that. No such luck. I therefore offer the following answer to fill in the gap.
3. Got cardboard box?
St. Louis Fed: All Employees: Total nonfarm