”A new book challenges the standard view that technological advances are always good for employment.”
This new study by two academics of the MIT Sloan School of Management provides some interesting food for thought on the future of work and its implications for welfare.
The article has an interesting quote from Nobel Prize winnen Robert Solow who raises the question of “democratization of capital”. “If all the income is being earned, in effect, by capital—by machines of one kind or another—then the economy becomes a kind of mutual fund, a situation in which the ownership of all that capital is spread around the population. That is a century away, or two centuries away, or maybe never”…” Maybe it is closer than Solow believes?