Must-Read: Duncan Weldon: Are the Robots Taking Enough Jobs?
Must-Read: I find myself, more and more, wanting substantive integrated studies of the combination of market-firm, nonprofit and government, and within-household productivity. And I find myself less and less satisfied with current conventional GDP accounts as providing a good enough guide to what is really going on. So I am not satisfied with blanket declarations that productivity growth properly accounted-for is relatively slow:
Are the Robots Taking Enough Jobs?: “We are transitioning to a world in which the global supply of labour…:
…is less plentiful…. New workers will have to support a seemingly ever rising number of older, retired people…. It is possible to worry that the ‘robots’ aren’t taking enough jobs. That unless we see big increases in both labour-saving technology and in productivity, then the world faces a future of slower growth and an ever greater share of current workers’ incomes will be used to support the retired…