We Speak on BNN About Structural Unemployment, Elizabeth Warren Posted on August 4, 2010 by Yves Smith I suppose I should be flattered that I keep being misbranded as an economist. You can view the segment here. Enjoy! Post navigation ← Deflation Alert: Employers Cutting Pay, Consumer Growth Index Points to Downturn Andy Xie on China’s Empty Apartments → Subscribe to Post Comments 17 comments larry August 4, 2010 at 8:31 am Nice one. You’re looking good. The holiday seems to have been a tonic for you. Too bad about Obama, isn’t it. a August 4, 2010 at 9:02 am “I suppose I should be flattered that I keep being misbranded as an economist.” The first thing we do, let’s kill all the economists. Or something like that. koshem Bos August 4, 2010 at 9:07 am Like the hit on Obama, I would like you to have used a bigger bat. He really is a horror. Also would like to see a stronger support for Warren; we have so few people that see straight and will to act on the thinking. F. Beard August 4, 2010 at 10:21 am Yep, “trickle up” is the solution but more accurately it should be called “victim’s aid”, aid to the victims of the government backed fractional reserve banking cartel. Francois T August 4, 2010 at 10:33 am Must be nice to be interviewed in a venue where people have the right to think and say what they think. Kathi Berke August 4, 2010 at 10:35 am The NYT today has an article on how employers have moved from furloughing their employees to cutting their pay. Labor has no bargaining power or government backing in America. The Manchurian President, who was elected on the backs of volunteer labor including union leaders convincing their white male members to vote for him, doesn’t seem to care. Keep speaking out, Yves. You’re one of the few credible voices around. And you look great, girl! What’s your secret? Yves Smith Post authorAugust 4, 2010 at 5:40 pm Makeup. On TV, you wear the equivalent of greasepaint. NOTaREALmerican August 4, 2010 at 1:01 pm Re: I suppose I should be flattered that I keep being misbranded as an economist. Perhaps you should start a trend and correct people when they insult you with the “economist” label. KFritz August 4, 2010 at 1:10 pm Come fr/ a family of Teamsters. It WAS a very dirty union. It no longer is. The Mob really has no say. Some construction and dock unions in the Northeast and small unions in the NYC area are still dirty. lark August 4, 2010 at 2:03 pm Terrific show. Keep up the good work. Jackrabbit August 4, 2010 at 2:34 pm Good Points Yves. How did we get here? Not only did we “paper over” economic problems with easy credit, but the faux success supported a free market ideology that led to a mercenary and insular culture. PS I posted this comment earlier but it seems to have gotten lost. Scott B August 4, 2010 at 2:44 pm Everyone with only 23 hours and 56 minutes per day is an economist, small “e”. Take issue with the term that you are not a “Professional Economist” taking money for that title. Unfortunately there is a lot of “politics first” in the White House, and would speculate that the “Jobs, jobs, jobs” rhetoric will commence (plus introduced legislation) about thirty days before the election in November. Don’t want to spend that bullet yet. I guess they want to set up Repub opponents in a “no-win” corner over jobs. And not give them six months to develop an alternate “theme”. Transor Z August 4, 2010 at 2:54 pm Terrific interview. Did you catch the mischievous twinkle in his eye when he asked you isn’t it true that Elizabeth Warren is just an ivory tower academic? Robert August 4, 2010 at 9:19 pm Structural unemployment is real and is here to stay. Even those economists who are beginning to recognize the problem vastly underestimate the ultimate impact. It is not just about a “skill mismatch.” It is ultimately going to be about a total lack of demand for skills (and workers). It is something unprecidented and it is caused by advancing technology. And ,no, it is NOT the same thing that has been going on for decades. Technology is moving faster and faster. In the next couple of decades will will see a staggering level of progress. For an excellent overview of this problem, check out this book (available as a free PDF): The Lights in the Tunnel: Automation, Accelerating Technology and the Economy of the Future. http://www.thelightsinthetunnel.com). If there were a textbook on this issue of technological unemployment and where it will lead, this book is it. I wish every economist would take a break from data analysis and READ THIS BOOK. The author also has a blog at http://econfuture.wordpress.com hunter adams August 5, 2010 at 1:19 am True pleasure to see your interview and hope for more. I’m buying your book. Am most encouraged by your mention of class in America. The word needs to be broadcast more often, a missing meme in corporatist media for obvious reasons. The hold on the lid of true class mobility will remain firm and oppressive without class conciousness and a counter to the incessant media distractions by the tools of of the capitalist bandits. ActrFshr August 5, 2010 at 1:01 pm Yves, since I’ve known you I’ve almost always disagreed with you on most matters, but I’ve always appreciated your blunt honesty and unwavering integrity. I’ve never known you to stray, spin, or run away from an argument. So although I so often disagree with you, I’d rather have you as congressional representative, mayor, governor, or president than pretty much everyone and anyone whose name has ever been on my ballot. Yves Smith ’12? ’16? ’20? You name it, we’ll carry the signs! JohnnyGL August 7, 2010 at 12:07 am Yves, you’ve been polishing up your TV segment skills over the last couple of years. I’m impressed with your progress. You’re getting near Dean Baker-quality in your delivery. Swift, incisive delivery on your points. Keep this up and you might find yourself turning into a TV personality!!! Comments are closed. Tip Jar Please Donate or Subscribe!