So much for the utopian techno future
Industrial robots are depressing wages and increasing unemployment, according to a paper published by the National Bureau of Economic Research, a private, non-profit, non-partisan research organization.
Written by MIT economists Daron Acemoglu and Pascual Restrepo, " Robots and Jobs: Evidence from US Labor Markets " [subscription required] appears only days after Treasury Secretary Steve Mnuchin dismissed the possibility of automated systems taking jobs from people, saying , "It’s not even on our radar screen."Similar to the cosmological conundrum about whether the universe will continue expanding indefinitely or collapse upon itself, the impact of […]
Full Post at www.theregister.co.uk