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| Robot ready: Robots made by Kiva Systems move product shelves on a warehouse floor. Amazon bought the company earlier this year in a step toward automating its distribution system and reducing labor costs. |
Technology Review: In Automate This, a book due out next month, author and entrepreneur Christopher Steiner tells the story of stockbroker Thomas Peterffy, the creator of the first automated Wall Street trading system. Using a computer to execute trades, without humans entering them manually on a keyboard, was controversial in 1987—so controversial that Nasdaq pressured him to unplug from its network. Then, with a wink, Peterffy built an automated machine that could tap out the trades on a traditional keyboard—technically obeying Nasdaq rules. Peterffy made $25 million in 1987 and is now a billionaire.
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Chapter 1: The Rise and Fall of the Union
In the last twenty years an industrial revolution has been taking place in the United States at a pace faster than that of any country in the world, transforming social layers of this country on a scale never before dreamed of. So fast has this industrial revolution been developing that 60 percent of the jobs held by the working population today did not even exist during the First World War, while 70 percent of the jobs that existed in this country in 1900 don't exist today. Not only have work classifications been fundamentally altered, but the work force has multiplied from 20 million in 1900 to 40 million in 1944 to 68 million today. The change is not only in numbers. Over 20 million of those working today are women, and by 1970 it is expected that women workers will have increased to 30,000,000—a work force of women which will be one-and-a-half times the entire work force of 1900.
The United States has transformed itself so rapidly from an agricultural country to an industrial country, and as an industrial country has undergone such rapid industrial revolutions that the question of who is in what class becomes an ever-wider and more complicated question. Today's member of the middle class is the son or daughter of yesterday's worker.
History is a Weapon:
The American Revolution - Pages From a Negro Worker's Notebook
Technology Review: Automate or Perish
#P4TC: Rosie Took Your Job
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