Everyone should take it easy on the robot stuff for a while.
February 21, 2015 9:15 AM Subscribe
There's been a small, but influential, hysteria surrounding the idea is that a huge wave of automation, technology and skills have lead to a massive structural change in the economy since 2010. The implicit argument here is that robots and machines have both made traditional demand-side policies irrelevant or naïve, and been a major driver of wage stagnation and inequality. Though not the most pernicious story that gained prominence as the recovery remained sluggish in 2010 to 2011, it gained an important foothold among elite discussion. That is over.David Autor and Larry Summers tear apart the idea that a Machine Age is responsible for our economic plight.
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