an article by James Bessen for VOX: CEPR’s Policy Portal
Do industries shed or create jobs when they adopt new labour-saving technologies?
This column shows that manufacturing employment grew along with productivity for a century or more, and only later decreased. It argues that the changing nature of demand was behind this pattern, which led to market saturation.
This implies that the main impact of automation in the near future may be a major reallocation of jobs, not necessarily massive job losses.
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