Yes, simple economics triumphs even here.
As the saying goes, it couldn't happen to a nicer bunch of guys.
You wait decades for an existential crisis, then two come along at once. At least that's how it must feel for OPEC's beleaguered ministers. In the short term the market for their oil is being eroded by rising production outside their control. Looking further ahead, oil demand itself is under threat from the electrification of road transport. OPEC may not yet be dead, but its days are surely numbered.
After a generation of financial mismanagement, the chickens in California are starting to come home to roost.
New York Times: "Economy Needs Workers, But Drug Tests Take a Toll".
Linkedin.com: "The opioid crisis is creating a fresh hell for America’s employers".
Tim Harford tells an interesting little story about ATMs and bank tellers.
Otherwise sensible folk are, for some reason, terrified by robots. Yet the results of automation are good overall. Workers move from wretched assembly-line jobs to better ones standing in white coats monitoring the robots, at the higher wages made possible by the higher tech. Or, even better, they move to jobs outside the auto industry, earning pay that goes further because people can buy the radically cheaper stuff the robots now make.
I'd add: the "terror" arises mostly from the fear that our educational system won't foster the move to those better jobs.
Capitalism certainly does things like this.
In 2016, there were 2.78 million honeybee colonies in the United States—16 percent more than when the disorder hit in 2006. In fact, there are more honeybee colonies in the country today than in nearly 25 years. Honey production also shows no pattern of decline.
"Canada's far North is terrified of losing Amazon Prime — and residents say it would be like 'pandemonium'"
Yes, it's true: you have no legal right to "your" Social Security benefits. Congress can cut them or terminate them at will in a New York second.
Social Security is, and always has been, a kind of dressed-up Ponzi scheme.