Robots work on a new Volkswagen Crafter production line at the newly opened Volkswagen factory in Wrzesnia near Poznan, Poland, in September. There is perhaps no other topic in economics that is more prone to illogical thinking than job creation. It is a wellspring of hysterical nonsense.
Let’s start with the canard that technology and automation kill jobs. Notwithstanding the fact that US productivity growth rates are at an all-time low, a growing chorus blames technology for killing our jobs. Writing in The New Yorker, NYU professor Gary Marcus alleges that, “as machines continue to get smarter, cheaper, and more […]