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TedX Livermore / Flickr Creative Commons

Democrat Ro Khanna, Silicon Valley's newest congressman, said that the government should be funding job-training programs to prepare people for the technical roles of the future.

When asked how efforts to train Americans for new roles could keep with the blistering pace of change, he said:

"So, the skills we need to teach are not 'you've got to learn Java programming or you've got to learn proficiency in Android technology.' The skill we have to give people is a technology proficiency — literacy that will allow them to continually adapt." — Rep. Ro Khanna, in an interview with Axios for C-Span's 'The Communicators' program

The rub: Tech companies often change the nature of work faster than the labor market can keep up. A prime example is Uber, which has created a new class of workers — ride-hail drivers — but is already beginning to test self-driving vehicles to replace drivers altogether.

Word on the street:. In a recent conversation with Axios about driverless trucks, new House Energy and Commerce Committee Chairman Greg Walden said that although automation is disruptive, "you're also not going to deny the innovation in technology either."

Khanna's workforce cred:

  • He served as a Commerce Department Deputy Assistant Secretary under President Obama.
  • He's taught economics at Stanford University and law at Santa Clara University Law School.
  • He wrote a book: "Entrepreneurial Nation: Why Manufacturing is Still Key to America's Future"
  • California Gov. Jerry Brown appointed him to the California Workforce Investment Board in 2012

Go deeper

Felix Salmon, author of Capital
Updated 4 mins ago - Economy & Business

How central banks can save the world

Illustration: Aïda Amer/Axios

The trillion-dollar gap between actual GDP and potential GDP is a gap made up of misery, unemployment, and unfulfilled promise. It's also a gap that can be eradicated — if central banks embrace unconventional monetary policy.

  • That's the message from Eric Lonergan and Megan Greene, two economists who reject the idea that central banks have hit a "lower bound" on interest rates. In fact, they reject the idea that "interest rates" are a singular thing at all, and they fullthroatedly reject the idea — most recently put forward by New York Fed president Bill Dudley — that the Fed is "out of firepower."

Why it matters: If Lonergan and Greene are right, then central banks have effectively unlimited ammunition in their fight to increase inflation and employment. They are limited only by political will.

Updated 22 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Health: Large coronavirus outbreaks leading to high death rates — Coronavirus cases are at an all-time high ahead of Election Day — Fauci says U.S. may not return to normal until 2022
  2. Politics: Top HHS spokesperson pitched coronavirus ad campaign as "helping the president" — Space Force's No. 2 general tests positive for coronavirus
  3. World: Taiwan reaches a record 200 days with no local coronavirus cases — Europe faces "stronger and deadlier" wave France imposes lockdown Germany to close bars and restaurants for a month.
  4. Sports: Boston Marathon delayed MLB to investigate Dodgers player who joined celebration after positive COVID test.
Dan Primack, author of Pro Rata
3 hours ago - Economy & Business

Leon Black says he "made a terrible mistake" doing business with Jeffrey Epstein

Photo illustration: Sarah Grillo/Axios. Photo: Rick Friedman/Corbis/Getty Images

Apollo Global Management CEO Leon Black on Thursday said during an earnings call that he made a "terrible mistake" by employing Jeffrey Epstein to work on personal financial and philanthropic services.

Why it matters: Apollo is one of the world's largest private equity firms, and already has lost at least one major client over Black's involvement with Epstein.