a column by Hal Varian (University of California at Berkeley, USA) for VOX: CEPR’s Policy Portal
Several recent studies have considered the impact of automation on labour demand in the coming decades. But demand is only one side of the labour market – the supply of labour will also change dramatically in the next 50 years due to demographic effects.
This column discusses how the net outcome for wages and employment will depend on the relative magnitude of these shifts in demand and supply. The supply-side effects due to demographic forces appear likely to be somewhat greater than the demand-side changes due to automation for at least the next decade, and possibly longer.
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I found this totally fascinating and actually read, rather than skimmed, the whole item.
Labels:
automation, labour_supply,
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