Another interesting piece from the Kurzgesagt team. They are perhaps more correct than they know [or fear]
Decoupling productivity from human labour.
This is the key difference when it comes to understanding the nature of modern innovation and the impacts we are seeing in markets: Jobless growth.
Aaron Acemoglu [named the 2017 Carnegie Fellow] and Pascual Restrepo from The National Bureau of Economic Research at MIT in the US released an outstanding [in my view] working paper titled: Robots and Jobs: Evidence from US Labor Markets.
Clay Christensen from Harvard also has some laser-focussed assessment on the changed nature of the modern innovation cycle and the rise of the finance sector in moving from the job creating “empowering innovations” through the “sustaining innovations” to “efficiency innovations”, where few if any jobs are created.
MIT’s David Autor also provides some stellar [and less pessimistic ] research in this field: Polanyi’s Paradox and the Shape of Employment Growth
Those of you interested in the policy implications of automation, artificial intelligence and robotics in general, should consider some of these titles.
Consider the impact of the young entering these labour markets?
- Superintelligence: Paths, Dangers, Strategies – Nick Bostrom
- Homo Deus: A Brief History of Tomorrow – Yuval Noah Harari
- Flash Boys: A Wall Street Revolt – Michael Lewis
- Weaponized Lies: How to Think Critically in the Post-Truth Era – Daniel J. Levitin
- Capital in the Twenty First Century – Thomas Piketty