partial, explanation for the decline of the middle class
increasing number of well-paying jobs requiring sophisticated technology skills
much of the workforce is feeling squeezed.
long-term trends that began decades ago,
job polarization
most harshly affected people in their 20s
an economic transformation that is unique in history
better medicine
wonderful
devastating
those not in a position to reap the financial benefits
Many economists see little convincing evidence that advances in technology will be responsible for a net decrease in the number of jobs, or that what we’re undergoing is any different from earlier transitions when technology destroyed some jobs but improved employment opportunities over time
inherently different
technological breakthroughs
jobless future
driverless cars
3-D printing
guaranteed basic income
Milton Friedman
Friedrich Hayek
libertarian
safety net with minimum government involvement
progressive
supplements other programs to help the poor
Allowing a large number of workers to become irrelevant in the technology-centric economy would be a huge waste of human talent and ambition
enormous financial burden on society
how even today’s automation is affecting employment
impact of industrial robots on manufacturing
increase the productivity of the factories
no evidence that the robots reduced total employment
impossible to accurately predict the effects of future advances
wild speculation
great potential for nanotech in areas such as clean energy
ignores the rules of chemistry and physics
scared our children
our future in the real world
there will be no such monster as the self-replicating mechanical nanobot of your dreams.
Speculating about such far-fetched possibilities is a distraction in thinking about how to address future concerns, much less existing job woes.
not only summarize the content but extract a “narrative” from it
readable
likely to improve
not seen a massive impact on white-collar jobs
cofounder of the company
Short-term and medium-term, [AI] will displace work but not necessarily jobs
free to work at the top of their game.
access to massive amounts of data
not breakthroughs in AI
magical rhetoric
temper our expectations
the trajectory of technological progress is not inevitable
choices
governments
consumers
businesses
which technologies get researched and commercialized and how they are used.
ncome inequality
back burner of mainstream economics.
Piketty’s
made inequality the hottest topic in economics
innovation in a form that increases the employability of workers.”
governments choose
research to fund
businesses decide
technologies to use
inevitably
influencing jobs and income distribution
we will be aware of what is happening
productivity
output given a certain amount of labor and capital
it makes sense to use less and less human labor
Starbucks
Consumers often prefer people and the services humans provide.
Apple stores
countless swarming employees armed with iPads and iPhone
compelling alternative to a future of robo-retail
choice in how we use technology
winning strategy
army of tech-savvy sales employees toting digital gadgets
ovel shopping experience
car service Uber
role in increasing inequality
effects are not inevitable
government
business
consumer
Krugman
gods of technology
social constructs
earlier technology transitions
suffering and upheaval
Stiglitz
Great Depression
mechanization
manufacturing boom
painful transition
service-based
Those who are inventing the technologies
automation
productivity
a new problem to innovate around
keep people engaged
AI can do most things better than most people
grand challenge for engineers.”
choose to embrace
public transportation systems
more safe,
convenient
energy efficient
fill the highways
much-needed investments
education
infrastructure
biotechnology
energy
the best bulwark against sluggish job creation is economic growth
innovative service-intensive businesses
rebuilding our infrastructure and education systems.
“labor-light” economy
genius of capitalism
benefited from them disproportionately
Licklider
on line interactive communities
privilege or right
intelligence amplification
discontinuity in the spectrum of intellectual opportunity.”
give more people access
benefit from the wealth new technology creates
more people need to “own the robots.”
owns the capital
robots and AI inevitably replace many jobs
boost their productivity
increase both their earnings and their leisure
increasingly wealthy society
restore the middle-class dream
driven technological ambition and economic growth.