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Wealth without workers, workers without wealth

The digital revolution is bringing sweeping change to labour markets in both rich and poor worlds

Source: The Economist  

TECHNOLOGICAL revolutions are best appreciated from a distance. The great inventions of the 19th century, from electric power to the internal-combustion engine, transformed the human condition. Yet for workers who lived through the upheaval, the experience of industrialisation was harsh: full of hard toil in crowded, disease-ridden cities.

The modern digital revolution—with its hallmarks of computer power, connectivity and data ubiquity—has brought iPhones and the internet, not crowded tenements and cholera. But, as our special report explains, it is disrupting and dividing the world of work on a scale not seen for more than a century. Vast wealth is being created without many workers; and for all but an elite few, work no longer guarantees a rising income.

Computers that can do your job and eat your lunch

So far, the upheaval has been felt most by low- and mid-skilled workers in rich countries. The incomes of the highly educated—those with the skills to complement computers—have soared, while pay for others lower down the skill ladder has been squeezed. In half of all OECD countries real median wages have stagnated since 2000. Countries where employment is growing at a decent clip, such as Germany or Britain, are among those where wages have been squeezed most.

In the coming years the disruption will be felt by more people in more places, for three reasons. First, the rise of machine intelligence means more workers will see their jobs threatened. The effects will be felt further up the skill ladder, as auditors, radiologists and researchers of all sorts begin competing with machines. Technology will enable some doctors or professors to be much more productive, leaving others redundant.


Abe Wants to Get Japan’s Women Working

Prime Minister Holds Forum Friday to Discuss Working Women and Gender-Based Targets

By TOKO SEKIGUCHISource: The Wall Street Journal 
Updated Sept. 11, 2014 11:02 p.m. ET


TOKYO— Yumi Suzuki is an anomaly in Japan’s male-dominated world of construction. She was one of six women studying architecture in the ’70s in college, among a class of 100 male students. Superstition about the jealous goddess of the mountains prohibited women from entering tunnels during construction. Her employer,Taisei Corp. 1801.TO -0.34% , kept its female employees in assistive positions when she began working there in 1981.


Skills Gap Bumps Up Against Vocational Taboo


Updated Sept. 12, 2014 12:09 p.m. ET

Federal, State Governments Push Apprentice Programs, but Find Few Domestic Takers


CHATTANOOGA, Tenn.—The Obama administration and governors from Michigan to North Carolina have a solution for some of the U.S. manufacturing sector’s woes: German-style apprenticeship programs.


Instant Noodles Could Hurt Your Heart

The instant noodles commonly known as ramen — a staple food for college kids and other young adults, as well as people in certain cultures — may increase people’s risk of metabolic changes linked to heart disease and stroke, new research finds.

Source: Yahoo News

Cell phone versus accident statistics

By Swint Friday

Cell phone versus accident stats_Page_2

Why Are So Many Young Adults Not Looking for Jobs?

Stephen Moore @StephenMoore

June 21, 2014

Source: The Daily Signal 

Economists are scratching their heads trying to figure out a puzzle in this recovery: Why are young people not working? People retiring at age 60 or even 55 in a weak economy is easy to understand. But at 25?

The percentage of adult Americans who are working or looking for work now stands at 62.8%, a 36-year low and down more than 3 percentage points since late 2007, according to the Labor Department’s May employment report.

This is fairly well-known. What isn’t so well-known is that a major reason for the decline is that fewer and fewer young people are holding jobs. This exit from the workforce by the young is counter to the conventional wisdom or the Obama administration’s official line.


Chasing ShalEionaires

Suddenly, rural landowners are wealth managers’ best friends

By Chrissy Kadleck
4:30 am, December 3, 2012

Source: Crains Cleveland Business

After years of cultivating crops, writing off tax losses and living modest, grounded lives, landowners in eastern Ohio are rural kings sitting upon riches beyond their wildest agricultural dreams.
That makes these newly minted “shaleionaires” the most sought-after clients of money managers, bankers and financial planners around the Buckeye State.
From free seminars to word-of-mouth referrals to partnering with local advisers, wealth managers are eager to sign these landowners and help protect, invest and grow their riches from the shale oil and gas play. (more…)

Personal finance editor Amanda Morrall exposes financial vampires in our midst, asks for your stories for publication

Posted in Personal Finance February 16, 2012 – 01:45pm

Source: Interest.co.nz

By Amanda Morrall (email)

Some of you might know I’m writing a book. It’s a layman’s guide to personal finance. It’s the anti-thesis of the how to-get-rich quick genre of books. My thesis is that in addition to being mindful, smart, and sensible with your money, you need build up your inner bank account.

What does that mean? Lots of things but it starts with taking stock of your non-financial assets, what you really want out of life and how you can make a difference. My thinking is that it’s not going to do you much good having a million bucks in the bank, if the means by which you achieved it makes you miserable, sick, divorced, or perhaps morally bankrupt. (more…)

The Relationship Between Tattoos And Income

Posted by  in Wednesday, October 7th 2009

My job function has changed recently and while I’m still not yet in a position to talk about it, I can tell that my new role allows me to meet people from all walks of life.  Not since high school have I been exposed to a wealth of diversity as I have in the last few months.  Only in high school I wasn’t analyzing every single person I see and trying to break them down on a financial level.

My prejudice is both a gift and a curse.  For most instances it is a curse though.  Though I’m not proud of the hypothesis of my observations, I am scientific enough to know what I’m seeing may not be accurate, and to know late these observations take root in my conscience. (more…)

Eagle Ford Exports Spurs Corpus Christi Port Construction Boom

By Dan Murtaugh April 10, 2014

Source: Bloomberg Businessweek

America’s newest energy hub just got a little busier.

NuStar Energy LP (NS:US) officially opened its third petroleum dock at the Port of Corpus Christi, Texas, as Chairman Bill Greehey smashed a bottle of champagne against a loading arm that was filling a barge with crude.

NuStar and other companies are building docks, storage tanks and other facilities in Corpus Christi to take advantage of the oil boom in the Eagle Ford shale formation 100 miles away. The port shipped out 350,000 barrels of crude a day in November, up from under 10,000 at the start of 2012, according to port data. (more…)

FBI Said to Probe High-Speed Traders Over Abuse of Information

By Keri Geiger and Patricia Hurtado
March 31 (Bloomberg) — Federal agents are investigating
whether high-frequency trading firms violate U.S. laws by acting
on nonpublic information to gain an edge over competitors,
according to a person with knowledge with the probe. (more…)

Motor Vehicle Accident Deaths as Proportion of All Deaths Within Age Groups

Source: Centers for Disease Control and Prevention


Mercedes or Ford, It Costs a Lot More Than You Think

Your Car Could Be Driving Your Budget Into the Ground


March 15, 2014 8:26 p.m. ET
Ever wonder where your money disappears every month? Take a look in your garage.Your car could be driving your budget into the ground.If you’re driving 15,000 miles a year—not uncommon for an American worker—in a midsize sedan such as a Toyota 7203.TO -2.95% Camry or Ford Fusion, you’ll spend more than $760 a month on average, or $9,150 a year, on gas, maintenance, tires, full-coverage insurance, license and registration costs, depreciation and finance charges. (more…)

The Relative Safety of Large and Small Passenger Vehicles

NHTSA Mass-Size Safety Symposium

Washington, DC ●February 25, 2011

Adrian Lund, Ph.D.


What is the history of motor vehicle crash safety by size and mass? Historical trends

•Can down-weighting of vehicles occur without safety consequences if size is held constant? Physics of injury

•What does the future hold?

Big Vehicles are a lot Safer!

At Texas’ Public Universities, Has Administrative Overhead Gone Overboard?

Source: Texas Public Policy Foundation

Jan 17th 2012

As the chart at the bottom of this page shows, public higher education in our state increased its full-time-equivalent positions by nearly 25 percent between 2002 and 2011. This data, released last week by the State Auditor’s office, raises (more…)