The Search for Scarcity

KMO talks with financial writer Charles Hugh Smith about the themes of his new book, A Radically Beneficial World: Automation, Technology and Creating Jobs for All: The Future Belongs to Work That Is Meaningful. Charles explains how information technology is creating "wormholes" in previously secure monopolies and cartels, which eat away at their profitability. Before we celebrate the death of the giants, lets remember that the less profitable they become the more motivation they have to shed the burden of their labor costs. Welcome to the Uberized economy. We need to find a way to keep the productivity gains that information technology makes possible AND provide well-paid and meaningful work for everyone who wants it.