Sir, – At the end of 2016, we could congratulate ourselves on a dignified and meaningful commemoration of our past. The 1916 Rising was remembered with dignity, sensitivity and reverence.
Sadly, however, in matters of assessment of and preparation for our future, 2016 was an utter failure. Another invaluable year has slipped by without mention or consideration of the impact of the greatest economic transformation the human race has ever experienced.
Modern technology has thrown historic economic convention to the wolves; a new economic era has dawned that old ideology cannot cope with or manage. Instead of discussing it, however, or planning for its consequences, we entirely ignore this unprecedented and basically beneficial transformation.
Gross oversupply is allowed destroy markets, putting trade and business in trouble all over the world. Meanwhile, more and more work, which until recently depended on human labour, is being taken over by automation. Unprecedented job loss is about to sweep over the world unless we devise new and different methods of keeping people in employment.
Lack of “growth” and increasing employment are leading to increased economic and political crisis in the world.
Conditions required to sustain continual economic growth and adequate employment are gone forever, and we must adapt to the new situation or face economic and political collapse.
Brexit and Donald Trump are early results of economic activity failing to deliver for increasing millions of insecure and worried people.
If we persist with denial of the great economic leap forward facilitated by the genius of modern technology, and refuse to recognise the impact on business and employment, we risk rapid progress towards much more extreme politics and social disorder.
Technology will not stop; it will improve, and without accommodation of the new situation, the crisis will become more intense and dangerous. We simply must adapt economic ideology to cope with abundance with decreasing need for growth or work or the future could be extremely difficult.
Anyone with concern for the future should make a new year resolution to demand politicians, economists and media seriously discuss the impact of modern technology on economic activity. – Yours, etc,
PADRAIC NEARY,
Tubbercurry,
Co Sligo.