The Fourth Industrial Revolution is interacting with other socio-economic and demographic factors to create a perfect storm of business model change in all industries, resulting in major disruptions to labour …
ENRIQUE FERNÁNDEZ-MACÍAS ENRIQUE FERNÁNDEZ-MACÍAS is of the opinion that a modern labour market agenda in Europe should try to boost job creation by following the high-road model of Nordic economies rather than the employment flexibilisation strategy that has been dominant in recent years. Such an agenda should also openly confront the socioeconomic divergence effect of the Economic and Monetary Union (EMU), by coordinating employment policies and fostering EU-level redistribution mechanisms. And it should initiate a serious debate about how to reorganise our socioeconomic systems if, as seems increasingly plausible, there is a generalised substitution of human labour by robots in a not so distant future.
The disappearance of jobs may be the biggest event in the labour- and political arena since the the agricultural revolution. We must start thinking very seriously: What will humans do when machines can do almost everything?
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