The workers' compensation scheme is being challenged to potential extinction by the workplace in which it was created decades ago. Stressed by economic challenges that have been fueled by globalization and technology, workers' compensation benefit programs are now being dismantled by historic reforms that attack the core philosophical principles of its very existence.
The evolving dynamic of the world's automobile industry provides a focus on the new economy where goods are made by robots and operated by a computer.
“Nobody knows how the world is going to look” in the coming years, said Mr. Harms, a bearded 41-year-old dressed in a gray cardigan over a crisply pressed white shirt. “The biggest skill you have to have is the ability to change.”****“I am convinced that we are going to see more change in the next 10 or 15 years than we have seen in the last 100 years,” Peter Schwarzenbauer, a member of the BMW management board, said in a telephone interview. “The big question is always, Do we car manufacturers learn to become tech companies more quickly than a tech company learns to be an automotive player?”
Click here to read the entire article. German Automakers Step Up to Silicon Valley Challenge (NY Times)
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Jon L. Gelman of Wayne NJ is the author of NJ Workers’ Compensation Law (West-Thomson-Reuters) and co-author of the national treatise, Modern Workers’ Compensation Law (West-Thomson-Reuters).
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