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If technology is taking over your world, what does it mean for the global economy and for our way of thinking about the world?At the beginning of every year, when my students sit down in front of me at Trinity College in Dublin, I can’t stress enough the importance of not only what they’ll learn in textbooks, but what they see happening in the world around them.
And, because everyone is getting a pay rise, they have more income.The “gig economy” is only millennial shorthand for the elimination of the middleman! If that is eliminated by technology, wages are forced downwards.Before you start rejoicing, appreciate that in fact we are all the middleman. This is precisely what is happening to the millennials.Taxis, retailers, telecom companies and all sorts of companies can no longer add margin to their price to make up for increased costs.Wages are being pushed down too because everywhere the “middleman” is being squeezed out.