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from TradeBriefs FMCG Daily Newsletter
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Sree Vijaykumar |
From the Editor's Desk
Once upon a time, we hated Wall Street, for its greed and apathy! Main street suffered, while the financial markets bloated up. Can we accuse Silicon Valley of the same? After all, people do lose jobs when an industry gets disrupted by technology (think automated cars vs drivers, airbnb vs hotels, amazon vs traditional retail). Yes, things become more efficient with technology and that is supposed to lift all boats, but does it? Erik Brynjolfsson, a professor at the M.I.T. Sloan School of Management, told MIT Technology Review, "Productivity is at record levels, innovation has never been faster, and yet at the same time, we have a falling median income and we have fewer jobs. People are falling behind, because technology is advancing so fast and our skills and organizations aren't keeping up." It is, he said, "the great paradox of our era." Full article by Om Malik here
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