Are you creating jobs? How many people work for What's App? (Answer 58 ) Is productivity meaning less jobs?
Schmidt wants people to become entrepreneurs as job destruction accelerates over the next decade. This is the new meme from the 1% -we did it- do it yourself. Of course this was Romney's "big idea" solution to the unemployed youth of America. Borrow $20,000 from your folks and start a business. Mitt and Schmidt don't have any money to lend because it is all in tax havens.
Makes sense, because people in repetitive tasks that are being automated have already self selected themselves as entrepreneurs :).
In a way he has a point since new firms generate more employment then old firms and some effort should be given to increase entrepreneurism.
I just don't think it will be nearly enough.
Robert Shiller has talked about the need to "risk share" as a society; I think the future is one of GMI, higher progressive taxation, caps on inequality, and international tax harmonization.