ECONOMICS: Seems like cost-savings will sweep the land of truck drivers?

Sunday, October 15, 2017

https://www.theguardian.com/technology/2017/oct/10/american-trucker-automation-jobs

End of the road

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“Labor accounts for 75% of the cost of transporting shipments by truck, so adopters can begin to realize those savings. Beyond that, while truckers are prohibited from driving more than 11 hours per day without taking an eight-hour break, a driverless truck can drive for the entire day. This effectively doubles the output of the trucking network at a quarter of the cost. That’s an eight-times increase in productivity, without taking into account other benefits gained by automation,” he says.

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Clearly, that efficiency will lower the prices of goods and services.

The human cost to individuals will be catastrophic.

As Jason Stapleton keeps saying: “You must invest in your own human capital.” 

The job you have today may not exist in a decade; adapt or die.

And, politicians and bureaucrats or “unions” can’t stop the “eight times increase in productivity”.

Sigh!

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