Answer to Question #179190 in Macroeconomics for Jholaine Parker

Question

View the following 3 TED Talks (video presentations). As you watch the videos, take notes of any relevant information.

• The key to growth? Race with the machine's | Erik Brynjolfsson
• What will future jobs look like? | Andrew McAfee
• Jobs of the future and how we can prepare for them | Avinash Meetoo 

2. Decide which of the 3 TED Talks best responds to this question;

•  Is human capital they key to avoid being structurally unemployed?   

Answer 1

Is human capital the secret to avoiding becoming structurally unemployed? Avinash Meetoo's TED Talk best answers this issue. He predicts that many people who currently have jobs will lose them in the near future due to technological advancements and automation. Furthermore, he points out that software development accounts for 35%, or one out of every three, of the top 25 skills in the world today. 30% of the budget is allocated to IT infrastructure, which entails ensuring that technology is available 24 hours a day, seven days a week. Data analysis accounts for 15% of these top skills, which entails making sense of large amounts of data in order to make sound business decisions. A further 15% of the top 25 skills are related to digital marketing, or how to use technology to promote and sell goods. The only non-IT skills on this list of the top 25 skills for 2015-2016 are electronics, finance, and law, and they only account for a small percentage of new employment.

“We need true professionals,” he says. We don't need people with paper degrees who don't know what they're doing. Major countries such as the United States, France, Germany, Singapore, China, India, and others have long placed a strong focus on STEM growth. They are now reaping the rewards of creating a highly skilled workforce that includes a significant number of technology entrepreneurs.”