Get ready for the dole queue as technology puts more people out of work. Even traditional occupations such as law is to be taken over by computers doing routine work. Nearly half of the workforce is predicted to lose their jobs. This is frightening and will be devastating to the economy and society.
Australia could make the mistake of hanging on to old ways of making money. Primary products have been the major source for earning foreign exchange for a couple of centuries. Primary products will always be needed. Australia must change, however, to accept new ways of doing things in a brave new world where unique ideas make wealth.
Manufacturing has never been a strong point for Australia due to high incomes created by a strong primary sector. Unless wages fall dramatically, manufacturing will never be significant. Education is the new frontier that this country must navigate to win out in the long term.
◆ Technology by Ty Buchanan ◆