We've somehow built extremely fragile systems. Technological, yes, but not only technological. Also social, economical, and structural. Somehow, our systems can no longer absorb even slight shocks.
Then, when the job market contracts by what would otherwise be 5 or 10 percent, all hell breaks loose, and there's an enormous chain reaction.
I like this answer. Any theories on what caused the shift?
Misguided efficiency, perhaps. Good systems have slack to absorb variance. Squeeze out too much slack, and the next big shock takes down the whole system.
Add to that incentive misalignment rewarding the wrong type of efficiency, perhaps.
is "late stage capitalism" too broad of an answer?