“The issue is that, if in fact automation and globalization do have a tendency to create vast wealth and opportunity for a very small, highly skilled set of people and have a tendency to create a larger and larger group of folks who feel redundant in the economy, and if you don’t pay attention to that, then people will rightly resist.”

WHO SAID IT?

A – Noam Chomsky
B – Woody Guthrie
C – Barack Hussein Obama

When politicians speak of the Middle Class, it is usually in campaign stop sound bites, where they are clearly pandering for votes.  You can’t exactly go in-depth in such a setting, and the mainstream media has no interest in boring you with economic policy discussions – except for maybe during 7AM Sunday talk shows that old people watch while you’re nursing a hangover.

Talk of updating the ‘social compact’ in light of coming waves of automation and AI is not something I expect from our career politicians. So it was refreshing to read this recent interview with our current POTUS.  He’s clearly been reading many of the same books I’ve been touting on these pages.  (That, or he just has smart advisers around him all the time).  Anyway, this quote shows unequivocally that our current president ‘gets it’.  I urge you to read the entire interview in Bloomberg Business Weekly, and pass it on to your Obama-hating father-in-law.  He won’t read it, but hey, at least you tried!