Thursday, February 26, 2015


Economists who work on growth, technology, and productivity:
... Wonder if automation technology is near a tipping point, when machines finally master traits that have kept human workers irreplaceable. 
You guys probably need to make sure you make it into the top of the income distribution:
... Rather than killing jobs indiscriminately, Mr. Autor’s research found automation commandeering such middle-class work as clerk and bookkeeper, while creating jobs at the high- and low-end of the market.

This is one reason the labor market has polarized and wages have stagnated over the past 15 years, Mr. Autor said. The concern among economists shouldn’t be machines soon replacing humans, he said: “The real problem I see with automation is that it’s contributed to growing inequality.”

If you've been paying attention in class ... this is the Thanksgiving analogy I talked about in class in "The Future You", and "What's Wrong with America's [sic] Right Now? Is It the Economy, or Is It Us?".

Read the whole thing, entitled "What Clever Robots Mean for Jobs" in the February 24 issue of The Wall Street Journal". 

* This is required, but it's not like there's a huge amount of exam-worthy content you need to worry about. Just some viewpoints on stuff that macroeconomists need to be thinking about.

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