Dr. Doom Roubini: Tech to Replace White Collar Jobs

REPLAY VIDEO
Your next video will start in
Pause

Recommended Videos

  • Info

  • Comments

  • VIDEO TEXT

Jan. 23 (Bloomberg) -- Nouriel Roubini, chairman at Roubini Global Economics and Ian Bremmer, President at Eurasia Group, discuss the lingering effects of the financial crisis and the global risks for the year ahead from the World Economic Forum in Davos, Switzerland on Bloomberg Television’s “Bloomberg Surveillance.”

Have we yet to read to the moma where we can say it is behind us?

The worst of the crisis is behind us in terms of financial risk.

The eurozone break -- lower probability of a eurozone break up, hard chinese landy and a war between israel and iran on the nuclear issue.

Growth will improve -- but still weaker in the eurozone and japan.

I do not think growth -- it will be better than the last years.

There will be a slack and good the labor market.

Inflation will remain low and central banks will be accommodated.

You are front and center in the mystery of this davos, and that we really do not understand what the emerging markets are doing.

The eurasian group prism.

How are the emerging markets question are there talking about the united states, but more optimistic year than the last few months.

Thailand, you see kiev this morning -- there is an ian bremmer story that no one is talking about.

When the forecast of economic growth of two of the four bricks is lower than the united states, you have to ask yourself what you doing in emerging markets.

The fact is, with all of these elections in 2014, and concerns that growing middle classes have serious demands on the government and those governments are not very well quit -- equipped to meet them, you will see lower growth.

A reality.

Nouriel, you came out of wonderful academics in italy, you went to harvard and the white house.

He always talk about inequality.

The cap we actually do something about wealth and income dispersion?

The facts behind the rising income inequality is complex.

Technological innovation is becoming more capital intensive -- so we are labor shedding because of this.

Trade, 2.5 billion chinese and indians global there's joining the global labor force.

And now even white-collar jobs.

And then you have the effects -- if you are a superstar in your own field, whether economist or journalist or a political scientist or lawyer or banker, your market is not 10 million people, it is seven billion people.

And it leads to benefits to the top.

Can we do something about it?

Eventually either we do something in terms of training or education -- or eventually backlash.

It is true that the markets have expanded a great deal, but of course, the markets are not 7 billion and the fact is lots and lots of those folks are not in the market really yet at all.

One of the most interesting statistics i have seen coming out the last couple of days is the top 85 people in the world make as much in total income --nouriel on the list -- as the bottom three point 5 billion.

That is a fairly stark number.

And yet it is not one we are really hearing about in davos at all.

It is really not that much sirius talk.

How do you respond to the one percent and the 99%? is the media one percent -- is the focus legitimate?

One percent is entirely too large in number to focus on.

I focus on a number much smaller than that.

Incredible concentration.

The question is not what is happening to the broad emerging-market middle classes, because those folks are emerging.

It is much more what is happening in advanced economies with larger unsustainable unemployment.

We've got to continue this conversation.

Ian bremmer has talked way too much compared to nouriel roubini.

We will come back to nouriel roubini and get a perspective on a better global economy.

Even ruby me and bremmer on the edge of optimism -- roubini on the edge of optimism.

It is "bloomberg surveillance."

This text has been automatically generated. It may not be 100% accurate.

Advertisement

BTV Channel Finder

Channel_finder_loader

ZIP is required for U.S. locations

Bloomberg Television in   change