AEM 2300 Lecture Notes - Lecture 5: North American Free Trade Agreement, Shift Work, Dutch Disease
23 Feb 2017
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E. brynjolfson and a. mcafee, will humans go the way of horses? foreign affairs, Unbounded economic wants are not guarantors of full employment in a world of advanced technology. Desire for human interaction - personalized services. Humans are nimble, dexterous, energy efficient, and have multidimensional controls. Mental advantages: able to formulate goals, be creative, innovate. Humans own capital: but capital ownership is highly unequal and skewed. Humans can vote: there are always candidates that are for workers. Encourage overall economic growth, to generate overall jobs. Enact policies that promote education, immigration reform, entrepreneurship, increased investment in infrastructure and basic research. Use competition and financial incentives to encourage technological innovators to develop solutions that encourage and support human labor, not just substitutes. But: automation and digitization are [likely] to rearrange, perhaps radically, the rewards for skills, talent, and luck this would [likely] lead to an even greater concentration of wealth and power.
