Automation technology has been the primary driver in U.S. income inequality over the past 40 years, according to a new paper by two prominent economists in the field.
Why it matters: Offshoring, the decline of unions, and corporate concentration have all played a part in widening the gap between lower-skilled and higher-skilled workers, but automation is the single most significant factor, and will likely grow even more important in the years ahead.
By the numbers: The real wages of low-education workers have declined significantly over the past four decades, with the real earnings of men who lack a high-school […]
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