JOBS: The international phenomenon no one wants to talk aboutSubmitted by mdefarge on Thu, 09/20/2012 - 11:25
New York Times: "Technology, Both Miracle and Burden"
"YALTA, UKRAINE — One of the paradoxes of our age is that we are simultaneously living through a time of positive economic innovation and also a time of the painful erosion of the way of life of many middle-class families...
When Mr. Milner [Russian Internet investor] talks about the technology revolution, he paints a dazzling picture of literally unprecedented innovation, bringing tremendous savings and benefits to consumers.
But when you talk to economists about the impact of those same forces on middle-class jobs, you come joltingly down to earth. The revolution Mr. Milner describes is part of a sea change in how the economies of Western industrialized nations work — and one that is hollowing out the middle class..."