Far too much of the chatter about jobs and technology is built around static analysis. Robot workers replace human workers. Assuming much smarter machines — such as self-driving vehicles — here comes mass technological unemployment.
But the effect of tech on labor markets is dynamic , not static. Automation may increase demand for goods and services, and thus the jobs producing them, by allowing their production to be performed more cheaply. This is the story of ATMs and teller jobs, for instance. (Just as importantly, tech progress can create new tasks and more employment opportunities.) And it also might be […]
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