i'm a mechanical engineer, but moved to IT (more money!), but the number of engineers, doctors etc. are only 5% or less of the population
Many folks can't take the heavy duty maths involved or the enormous learning required to be a doctor -- and that doesn't make them dumb: my sis-in-law is a professor of Japanese language and culture (and firmly conservative), and brilliant at languages, but show her numbers and she is terrified, she can hardly understand them, no matter how hard she tries
And I have friends who are nowhere near smart enough to be in science or high finance or other fields or even in literature or language etc. or even in business
What's going to happen to these?
We may complain about outsourcing to China, but there is also the threat of robotisation -- a car factory that employed a thousand people can now run with just a few dozen skilled technicians.
I probably put lots of people out of a job with balance transfer and insurance online applications
What's going to happen to the middle 80% IQ people?
There are only so few skilled jobs like hairdressers, plumbers etc (and don't get me wrong, I have a lot of respect for a good plumber and if I was cutting hair, well, we'd look like we were in the 80s)
The McCormick reaper put thousands of farm hands out of business. What happened to them?
Humans adjust.