Richard Arthur Kelo - Automation Paving the Way for Unemployment

There are certain government policies that many of us take for granted as being beneficial on the whole, but in reality are hugely detrimental to the bigger picture. A lot of these occurrences take place in the world of economics, where ideas and policies are nuanced and blurred much of the time. Trying to understand the effect certain government economic decisions have on society requires education in the field, and being able to analyze the monetary and societal outcomes that they can have. Rick Kelo is one such classical liberal economic thinker, who uses the internet as a platform to do just this. His analysis is famed fro being articulate and concise, as he tackles some of the most pressing issues in contemporary society today.

Rick Kelo is certainly a Prolific Online Figure in the Worldof Economic Thought, and has built quite a following through his insightful writings. Having graduated from the prestigious Chicago University with an MBA in Economics and Finance, Rick Kelo  is well placed to make such informative analysis. On his blog he contends some of the most debated issues in American politics today, using his sharp eye for detail and foresight in the economic markets.

One such contentious issue taken on by Rick Kelo recently was the argument of minimum wage. Whilst on the surface, most would argue that minimum wage seems to be a good thing, helping workers get a fair level of pay which reflects the living cost in society, there is a flip side to the story. By imposing minimum wage on workers, governments in effect are having a negative influence on the rates of employment.

As wages go up, companies constantly seek to find ways to automate their services and products, and take away the rising expenses of workers. In doing so, more and more people lose their jobs to machines, and the unemployment rate rises.

One thing that is less contentious is that a high level of unemployment is very bad for every economy. By raising minimum wage, it is clear that governments would rather appease the people's short term aspirations, without having a wider scope and looking and the long term negative effects. For Rick Kelo, it is policies like this which need to be dispelled, and his internet blog is a great example of how educated individuals like himself can better inform the public of such matters. To find out more about Rick Kelo – A Mouthpiece for Age Old Economic Ideas, visit his page here.