·       We’re in a race between computers and people – and we need to make sure the people win quoting Eric Schmidt Google at Davos, Switzerland

·       The forces of globalization and technology  tend to wipe out middle-income jobs

·       230 million white collar jobs will be transformed or eliminated in the next ten years

·       Nobel laureate Michael Spence has shown that when the American economy opens itself to free trade net job creation is basically nil

·       What’s threatened are not Ph.Ds or burger flippers but the jobs in between … middle class jobs

·       It’s been fifteen years since the American family got a raise

·       This is not just a wallet issue. It makes us feel bad too. Behavioral economics tells us that our sense of well-being isn’t absolute but rather is pegged to how the Joneses are doing

·       Majority of the jobs created in the next ten years will require at least two years of college if not more

·       Most importantly, some wealth distribution and reduction of inequality is needed to buffer the next few years of job destruction and evolution

·       95% of all new wealth created in the US recently has gone to only to 1% of the population

 

Above is summary of a commentary by Rana Foroohar, economist