MIT Sloan Professor Paul Osterman recommends tapping into America’s 1,600 community colleges to reskill displaced workers, as these institutions effectively yield large wage increases for students. Another option may be employer or government subsidized online training and digital degree programs.
At least one thing is clear. Doing nothing is not an option. Entire industries have evaporated from the American economy. This will only expand in years to come. Rather than fight technology, we should embrace it and prepare workers whose fields move overseas or are learned by robots. Every human deserves the opportunity to learn skills that will carry him or her into the future. The alternative effectively holds disadvantaged members of our society back, building a future enjoyed by the few at the expense of the many. Both government and employers can and must do better.