Bill Gross, the renowned US bond manager, puts out a monthly Investment Outlook opinion piece, a public outlet for some of his ideas and concerns. I used to read them quite regularly, and although I don’t do so these days, somewhere I saw a reference to the latest issue, and so dug it out.
His focus this month is on the advance of technology and the possible threat to the future employment opportunities of people in advanced countries. Among his possible solutions is a Universal Basic Income – as he notes (and despite the recent flurry of interest on the left in New Zealand) it has also had significant support on the right, especially in the US.
The centerpiece of his discussion is this chart
Chart I: Advance of the Robots, Retreat of Labor
As he describes it:
As visual proof of this structural change, look at Chart I…
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Utopia, you are standing in it! 
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