My tweets on protectionism

I am against protectionism... but... and

All trade deficits are not created equal
If a nation has a trade deficit resulting from importing too much of tomorrow’s goods and exporting too little of yesterday’s, that deficit is worse than if importing too much of yesterday’s goods and exporting too little of tomorrow’s

All capital surpluses are not created equal
If foreigners invest too little in your nations’ current existing assets, and too much in your tomorrows’, that capital surplus is not as good as if they invest much in your current existing assets, and less in your assets of tomorrow.

Are not nations who retaliate against the imposition of tariffs by imposing their own tariffs just as protectionist as those who started imposing tariffs?

Here some disorderly loose cannon questions about life in the just around the corner Robot/Automation La-La-Land

The more varied and crazy questions we pose, the better chance we have to prepare ourselves... and so, in no special order, here we go with some tweet-sized ones!!!

When Mexicans, Chinese and American compete for the jobs the robots are taking, is that not just a Lilliput/Blefuscu war?

If you built that Mexico wall who would benefit the most, the U.S. low-skill workers, or the robots?

Why is how to handle jobs being productively taken over by robots/automation, not sufficiently high on our agendas?

Who will be able to separate delivery robots with good intentions from those with bad ones?

How will net salaries not paid to robots be used: Lower prices, higher salaries, bonuses or dividends?

And when robots substitute for humans, what are the consequences for a nations tax base?

Should we tax robots low enough for these to do all possible jobs for us humans, or high enough for us humans to remain competitive for the jobs? (I guess that if in Sweden they could respond with a not so helpful “Tax them lagom”)

Should we allow 3rd class robots, only because of unfair competition, like no payroll taxes, to replace humans?

Since it is hard to define the work of robots, in order for humans to to compete with these for jobs on a level playing field, and for production to be structured in the most economical way, it would seem that current payroll taxes need to be eliminated... or;

Since payroll taxes help finance programs such as Medicare, should we not impose payroll taxes on robots?

Is not falling working-age population numbers quite irrelevant with so many robots volunteering to work? 

When 2nd class robots don’t cut it, how to we assure ourselves we get the 1st class ones?

The higher the minimum wage for humans, the more jobs for robots. Are those predicating higher minimum salaries just lobbyists contracted by robot manufacturers?

No minimum wages for humans. Those are just subsidies to robots. Robots must compete, so that we get the best robots.

Having your nation being “Second” is livable, but is having your robots not being “First” that?

The better the robots, the more we lose human jobs, the more the need of a Universal Basic Income (UBI). Are we prepared?

Universal Basic Income threatens the redistribution profiteers so they will try to stop it. How can we stop them?

The lower trade tariffs and human salaries are, the more competition do robot manufacturers face. Is that good?

The higher the trade tariffs and human salaries are, the more will robot manufacturers profit. Is that good?

The better the robot, the more it can produce for us, but the more human jobs it can take from us. So what do we do?

In order to force our robots to become 1st class, do we not need to tax them, a lot? 

If land A has the better robots how can B compete: with tariffs or with lower dividends, salaries, bonuses and UBIs?

If my grandchildren’s future depends on the quality of their robots, is it really a sin to engage in some industrial espionage?

To who does robot productivity that supplants human productivity belong: to all, or to the 0.00000001 percenters?

How can I help my grandchildren to be needed as sane and happy humans, in tomorrows’ Robot/Automation-land?

With so much automation possibilities, how does one answer “Grandfather what to you think I should study?”

What are unions to do with a shrinking labor base? Will tomorrows CEO’s need a union? What if robots want to unionize?

With unions vigorously defending the employed, their clientele, don't the unemployed need to create their own unions? 

What’s better intelligent artificial intelligence or sort of dumb artificial intelligence we can still sort of better control?

In case Artificial Intelligence becomes too intelligent for our own good, should we put some dumbing brakes on it?

I can’t wait for artificial intelligence to take over from those dumb human bank regulators who believe that what’s perceived risky is more dangerous to our bank system than what is ex ante perceived as safe.

When supplanted by robots how can we avoid being thought of as an unneeded human surplus?

Will drones and robot soldiers send the drill sergeants home? 

If we humans are supplanted by robots, are we doomed to join Jethro Tull’s “Heavy Horses” in retirement? 

What if we had a thousand times more of more capable robots, would that not make it so much easier to stay home fighting coronavirus?

PS. 3D house printers also classify as robots

 

PS. We need decent and worthy unemployments

PS. Let robots make us an offer we can't refuse

PS. My Universal Basic Income 

Where are those Mexicans? (and the robot is laughing)

We need worthy and decent unemployments

What politician does not speak up for the need to create decent and well paid jobs for young people? But, if that's not possible, and the economy is not able to deliver that on its own ... What on earth do we do?

Society must of course do its utmost seeking to solve the problem of youth unemployment ... including taking leisure to levels never thought of… six months vacations! But it also needs to prepare itself to handle a growing number of unemployed, not cyclical but structural, that is, those who never ever in their life will have a chance to get an economically productive job.

Two decades ago, concerned about growing unemployment, half in jest, in an Op-Ed in El Universal of Caracas, I asked something like whether it was better to have one hundred thousand unemployed running each on his side as broody hens, or to seat them all in a huge human circle where everyone would scratch the backs of one of his neighbors, charging a lot for his services, while his own back was scratched by his other neighbor, at an equally high price. The tragedy is that this question seems to me now less and less hypothetical.

And is not necessarily an act of desperation to think about what to do with the unemployed ...because sometimes, in seeking to unravel a tangled twine, starting with the other end, may be the best way to release the first. Which is better: educating for a source of employment likely to be absent and therefore only create frustration, or educate for unemployment, and suddenly perhaps reaching, when on that route, the pleasant surprise of some jobs?

The power of a nation, and the productivity of its economy, which so far has depended primarily on the quality of its employees may, in the future, also depend on the quality of its unemployed, as a minimum in the sense of these not interrupting those working.

That the gentleman of the leisure class to which Thorstein Veblen referred did not work, was essentially a result of them being free of economic needs. But that does not also mean that the economy and the social peace of the moment, were not also in need of these men not competing for the fewer jobs to be had resulting from an industrial revolution.

The gentleman was encouraged to study philosophy and art by means of the social status he gained when knowing about such matters. In this respect, one of the most important challenges we currently have as a society is how to create social status and other incentives, for the unemployed to become solid and worthy unemployed citizens?

And we need to imbue the unemployed with special pride, because only this way will we keep them from making impossible economic demands... so far I have found no clues about how to handle a bargaining with their union representatives.

Given that we do all have to guard against the dangers of idleness, since the last thing we need is for the structurally idle to be idle, even circumstantially. Many of the current unemployed youth keeps busy with their smart-phones, and we do not want them not to be busy… and so using what is really their net oil revenues, to help them to immediately upgrade to an iPad, sounds like a good start. 

Friends, Venezuela should aspire to good jobs, but also to have the world's best unemployed.

Translated from El Universal, Caracas
PS. July 30, 2014 the new shareholders of El Universal, friends of Chavez and Maduro censored me, and all links to my 14 years of Op-Eds were erased.

PS. Minimum wages helps cause minimal wages.

PS. To get more jobs and higher salaries: Call on all capitalists to exploit any low salaries, for as much as they can. J

PS. Throw out the useless credit-risk-weighted capital (equity) requirements for banks and… if you absolutely must distort, then use potential-of-job-creation-weights instead (and throw in some sustainability-weights too for good measure). J

PS. A Universal Basic Income, since that is not a not-having-a-job-or-not related social contribution, could be a part of the efforts needed. That said these would be my minimum minimorum rules on a UBI

PS. Increased tariffs and minimum wages are superb news… for robot manufacturers L

PS. Perhaps we must put payroll taxes on robots to permit us humans to compete for jobs on more level grounds.

PS. Once social cohesion breaks down it is too late. As a Venezuelan I should know.