Economist John Maynard Keynes conjectured in 1930 that all human workers would be replaced by machines, leading to “technological unemployment.” This and similar prophesies have inspired a cottage industry of research examining what might happen in a robot-led future. Previous studies, including the 2016 World Bank’s World Development Report, have estimated that roughly half of all workers will be at risk of losing their jobs to automation over the next 20 years.
But MIT’s Daron Acemoglu and Boston University’s Pascual Restrepo analyze the effect of industrial robots and find a more modest effect on job loss.
Industrial robots (IRs) are fully […]
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