In the long view of history, technological advancement unleashed by the Industrial Revolution has come to be seen as a net positive for economic development and everyone’s well-being, even those workers who initially lost their jobs. There’s reason to wonder, however, if this “second machine age” may be different.
A labor dispute between shipowners and longshoreman on the West Coast has been going on for months now. This weekend, the president dispatched labor secretary Thomas Perez to California to try to resolve it. For more, economist Christopher Thornberg joins Alison Stewart from Los Angeles. Continue reading
“We need to qualify the fairy tale we like to tell about capitalism and free labor,” argues Harvard historian Sven Beckert, author of the new book, “Empire of Cotton.” In part two of his essay on Making Sen$e, he explores slavery’s and cotton’s role in the development of modern capitalism in the U.S. and elsewhere. Continue reading
The U.S. economy’s summer surge was even stronger than first estimated, expanding at an annual rate of 5 percent from July to September — the best performance since the summer of 2003. Judy Woodruff talks to Nariman Behravesh, chief economist at IHS, about the impressive recent growth and whether it will last. Continue reading
As industrial robots continue to acquire cognitive skills, machines will replace one in three human workers by 2025, Gartner analysts predicted Monday. Continue reading
The latest data from the U.S. Census Bureau shows a pattern of uneven progress. While the poverty and unemployment rates have fallen, prosperity is no longer widely shared as the economy grows. Sheldon Danziger of the Russell Sage Foundation talks with Judy Woodruff about why financial progress for the typical American family has stalled for 15 years. Continue reading
In our news wrap Monday, more than 700 immigrants hoping to reach Europe from Africa and the Middle East were killed in two shipwrecks last week. The death toll reportedly equals all migrant deaths for the entire year of 2013. Also, Air France pilots began a week-long strike, grounding more than half of the airline’s flights. Continue reading
More than 60 years after the United Nations’ Universal Declaration of Human Rights made slavery a worldwide crime, forced labor is a $150 billion industry, according to a new UN report published Tuesday. Continue reading