Shaping structural change in an era of new technology - Policy Network - 0 views
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juliebaudrillard on 01 Jun 18"Notwithstanding that the next wave of innovation will not be unprecedented, there still could be negative impacts that policymakers need to prepare for and seek to mitigate. However, there will also be benefits, something 'fourth industrialists' usually ignore. Most importantly, the next wave will raise productivity growth rates. European productivity has been growing at anaemic rates for years, and in the UK it has virtually ceased. Without productivity growth to create a 'bigger pie' there is no way for European living standards to increase, especially given that the working age to old person ratio will drop from 3.5 today to 2.2 by 2040. But this does not mean that there may not be some negative impacts from the next wave of innovation. However, most of these fears are unwarranted and the main one, job dislocation, can and should be addressed by smart policies."