The prevalent and dystopian image of robots destroying jobs rests upon another popular image that has also gained widespread currency: the assumption that labour productivity has increased dramatically. This assumption makes logical sense since the purpose of automation is to increase productivity. …
A new issue, that is in fact age-old, is receiving enormous interest these days from economists, social scientists and journalists. The danger of automation, or the process by which machines render labour to be obsolete, is seen as a real and fundamental danger. …
This article was published October 23 in German
A reader pointed to an article by Professor Thomas Straubhaar, the former head of the Hamburg Institute of International Economics (HWWI) (thanks for that!). Straubhaar complains that central banks are making a mistake by keeping the interest rate at zero. …
