Vanguard Wonders When Machines Take Over, Who Buys ETFs?

Citing an Oxford University study that predicted 67% of US jobs will be lost to computers – with job loss numbers climbing to 69% in India and 77% in China – the swarm of smart technology sweeping the job market doesn’t outwardly paint a bright picture, noted Joe Davis, Vanguard’s global chief economist. “Who will be left to buy ETFs?” he questioned at the Morningstar ETF Conference. “Wealthy machines?” [timeless] But the computerized future isn’t that bleak, he said, pointing to the one trend that he said will shape human history more than any other. There are certain methods of…