Economics researchers have long studied how local workers respond when an industry such as steel manufacturing is squashed by obsolescence or competition. Is the region able to regenerate with new industries and workers to fill them? Do displaced workers migrate to where new jobs appear, helping the economy at large absorb adverse economic shocks? Or does the local population decline, stuck in economic decay?
The answers to those questions are vital for economists, policy makers, and local governments to decide as new waves of technology, such as artificial intelligence and robotics, sweep across the business environment. The subject is also […]
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