Rising labour costs due to the growing number of rules and regulations is forcing employers to introduce AI driven robotic automation devices at an ever faster rate. Before long, many of today’s jobs are no longer going to require human input, and it’s happening fast and is in no way limited to low skilled members of the workforce. When is your job scheduled for elimination?

While not part of the official economic lexicon, I consider a ‘malincentive’ a useful word to describe any promise of short-term gain whose long-term costs outweigh any immediate benefits enjoyed. The temptation to urinate in one’s pants on a cold winter day to get warm is a (perhaps unnecessarily) graphic example of malincentive. Yes, a momentary relief from the cold can be achieved; but moments later, you’ll have a much larger problem than you did at the outset.Read more…

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