Americans need not fear that automation is replacing workers, because a once-again robust economy under President-elect Donald Trump will actually benefit everyone in the long run, Forbes Media CEO Steve Forbes tells Newsmax TV.
“If you have a vibrant economy, automation actually enriches the economy. It's when you have a stagnant economy you have a problem," Forbes told "Newsmax Prime" host J.D. Hayworth on Wednesday.
“We've had robotics for decades but we didn't call them robots; washer machine, dish washers, so we've been having this going on for a long time," said Forbes, author of "Reviving America."
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“We have a vibrant economy means we all move up but this is where education is important. Our schools not just in inner cities but even many rural areas are doing a lousy job with our young people," he said.
In a wide-ranging interview, Forbes said:
- Trump would be wise to appoint Newsmax Finance Insiders Larry Kudlow and Stephen Moore to positions in his administration. "I hope Larry Kudlow gets in perhaps as the head of the Council of Economic Advisers. Perfect post for him." he said of Kudlow. "Stephen Moore, whether it's in the White House or with Vice President-elect Pence. Very critical to have his voice in there. Others like David Malpass who understands the Fed better than anyone else. Get him in there. He was a supporter of Trump," Forbes said.
- Trump must make America a shining example to the world on all things economic and financial, from trade deals to tax cuts. "On trade, he's going to be spelling out exactly what they're going to do," Forbes said of Trump. "There are very concrete things that this current administration should've done. If he pushes through those tax cuts, remember when Reagan cut taxes in the 80s within a few years 50 countries around the world followed suit," Forbes explained. "So if we start to get things right here, it's going to have a good knock-on effect in a world that is very troubled right now. So it's needed. The blunt truth is it's not politically correct to say it but if America gets in trouble, the world's in trouble. If we get things right, the world has a chance to get things right. We are the leader like it or not. That's our burden. That's a good one. We can do it, the others can't."