To summarize Friedman:
- The era of average people relying on doing an average job for average pay is over.
- Technology is more efficient than ever at destroying average jobs.
- Everybody has to get smarter.
To summarize the Productivity Trilemma:
- Productivity growth causes growth in GDP, producing negative employment effects.
- Real interest rates outpace real growth rate of GDP, causing regressive redistribution effects, leading to the impoverishment of debtors and the enrichment of creditors.
- Governments attempt to keep employment high through deficit spending to compensate for employment effects, enriching creditors and ultimately impoverishing all debtors.
The implication for web analytics and data science:
- Automation technology is destroying manual data entry and dashboarding positions.
- Get smarter, get creative, and get into experimentation-as-a-value-add. Do it now.
- Data Science is a creative outgrowth of BI and Web Analytics, maneuvering directly to be the destroyer of not just manual entry, but any thinking at all.