Economists place greater emphasis on technology as a cause of rising inequality

Economists place greater emphasis on technology as a cause of rising inequality

Automation of jobs previously handled by human workers is responsible for half or more of the widening wage disparity among American workers over the last 40 years. Daron Acemoglu, a prominent economist at the Massachusetts Institute of Technology, has been arguing against what he calls “excessive automation.” Investing in robots and software has yet to yield a broader economic benefit. However, he claims that the rising inequality caused by those investments, as well as the public policies that favours them, is obvious.

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