New York Times

Globalization and trade agreements have been blamed for costing millions of Americans well-paying jobs. But a far greater force in the gutting of middle-class life in the United States has been automation, which has replaced well-paid workers with robots and digital platforms. The greater efficiency fuels economic growth, produces cheaper products and makes life’s task easier. But in the process, many are left poorer and less secure.
What can be done to limit the harm and spread the benefits of automation?

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2 Responses to New York Times

  1. shinichi says:

    Invest in Technology With Social Benefits

    by Arun Sundararajan

    http://www.nytimes.com/roomfordebate/2016/10/04/easing-the-pain-of-automation/invest-in-technology-with-social-benefits

    Artificial intelligence can also expand human capabilities rather than substituting for them.

    ++

    Lack of Demand Is the Economy’s Problem, Not Automation

    by Dean Baker

    http://www.nytimes.com/roomfordebate/2016/10/04/easing-the-pain-of-automation/lack-of-demand-is-the-economys-problem-not-automation

    If we generated more demand through larger government deficits or smaller trade deficits we would have more jobs.

    **

    Increase Top Tax Rates to Cut Middle-Class Taxes

    by Maya Eden

    http://www.nytimes.com/roomfordebate/2016/10/04/easing-the-pain-of-automation/increase-top-tax-rates-to-cut-taxes-to-middle-class-workers-hurt-by-automation

    Redistributing gains from beneficiaries of technology toward its victims is a reasonable way to spread the benefits of progress.

    **

    A Universal Basic Income Would Insure Against Job Loss

    by Andy Stern

    http://www.nytimes.com/roomfordebate/2016/10/04/easing-the-pain-of-automation/a-universal-basic-income-would-insure-against-job-loss

    It would supplement not substitute for work, adding consumer power and helping people start businesses, get retrained or pay tuition.

    **

    Companies Need to Pay to Train Potential Workers

    by Jerry Kaplan

    http://www.nytimes.com/roomfordebate/2016/10/04/easing-the-pain-of-automation/companies-need-to-pay-to-train-potential-workers

    Banks loan money to buy homes based on an appraisal of that home. Worker retraining should be a similar type of investment opportunity.

    **

    Incentives for Entrepreneurs and Subsidies for Low Wages

    by Andrew McAfee

    http://www.nytimes.com/roomfordebate/2016/10/04/easing-the-pain-of-automation/incentives-for-entrepreneurs-and-subsidies-for-wages-can-cushion-automations-blows

    Give the economy every possible chance to create new types of good jobs, but we’re far from needing large-scale wealth redistribution.

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