For his new book Average Is Over Tyler Cowen is interviewed by Erik Barker. With more data and more processing power comes more things that can be done with data.
The more information that’s out there, the greater the returns to just being willing to sit down and apply yourself.
I know lots of sharp motivated software developers who fit this description:
isn’t what’s scarce; it’s the willingness to do something with it. So if you’re an individual, say from China or India, and you’re really smart and motivated, you’re going to do much better in this new world than say 10 or 20 years ago.
It is no longer enough to be born in an industrialized economy to grow up, apply yourself moderately, and get a decent job, career path, and income.
Is Tyler describing you?
But there are a lot of people in the wealthier countries, I wouldn’t describe them as lazy, but they’re not super motivated. They think they can more or less get by. I think in relative terms those people are already starting to see lower wages because they’re just not quite the prize commodities they think they are. They’ll do okay. They’ll be able to get jobs, but they’re not really individuals who are going to see a lot of income growth, and I think this could be a rude awakening to a lot of people.
I am amazed at the number of people who won't put up the effort to change and develop new skill sets. The longer they wait the harder the change will be. Check out the dropping median incomes in most states in the last 12 years. Michigan is down 19%.
Not everyone is smart enough to adapt to the new world of smart machines. But if you are smart enough and you aren't trying to get better skills you are being irresponsible to yourself. No political party is going to save you. No political movement is going to preserve your market value. If you aren't independently wealthy then your choices are either a safe government job (which does not include all government jobs) or lots of technical skills or awesome management or sales skills or some combination thereof.
|Share |||By Randall Parker at 2013 October 05 06:18 PM|