The Economics of the “Return Trip Effect”

Have you ever walked to a particular location, say a friend’s house, and found that the walk actually was a lot farther than you had expected making it quite the unpleasant walk? But, you found that on the way back the walk seemed to go by much more quickly? There’s a scientific name term for this. It’s called the “return trip effect” (RTE). Continue reading “The Economics of the “Return Trip Effect””

Barbers: Automation vs Occupational Licensing

We continue to be on guard for industries in which workers are likely to be replaced by machines and automation. Food service and accommodations, transportation, and retail are all expected to be taken over by automated processes. Employment numbers in the manufacturing sector continue to dwindle as machines take on the bulk of the work. Continue reading “Barbers: Automation vs Occupational Licensing”

Safety Or Crony: General Motor’s Attempt To Lay Out The Rules

Sometimes, it’s hard to tell if a new regulation is put in place to ensure safety or to make it difficult for competitors to compete in the same market. In the case of Michigan’s unprecedented rules on self-driving vehicles, General Motor’s involvement is not making it any easier. Continue reading “Safety Or Crony: General Motor’s Attempt To Lay Out The Rules”

The Robot Saves People and Kills Jobs

First appeared at GenFKD.

As industries race toward the technological automation of our future economy, Gen Y needs to hone its skills in order to not only make a positive impact but to not be left behind.

Case meet point: a bot combatting everything from parking tickets to homelessness is about to improve lives, but disrupt thousands of jobs. Continue reading “The Robot Saves People and Kills Jobs”

The Next Wave of Tech Disruption

Previously posted on GenFKD.

A third wave of economic transformation is nearly here, according to a new report by the Kauffman Foundation.

Kicking off with a pep talk from Steve Case, AOL co-founder and author of the Third Wave, who outlines the growth and entrepreneurship that will revolutionize a millennial-led economy.
Continue reading “The Next Wave of Tech Disruption”