In our previous episode, we talked to Dr. Seth Benzell about How the Pandemic Changed Global Labor Markets and in this episode, we talk about the work he's done to find a solution to the age-old issue of rising automation.
The automation scare is not new. Since the luddites in the 19th century, we've heard the laborers complain about automation. In fact, it is the new standard in todays world. We all hear about the benefits of automation but we are still trying to understand and remediate the negative externalities.
If you've listened to Things Have Changed before, you know Dr. Seth Benzell spends his time studying the digital economy, the platforms that have succeeded in it, and how it's affected our economy as a whole. In this episode, he helps us understand how he's gotten to the two solutions that he mentions in his paper on "Simulating Endogenous Global Automation".
Seth walks us through two of his considerations for policy that could possibly change the direction away from increased wage inequality:
Check out our previous episodes with Dr. Seth Benzell on the links below:
Here is a link to Dr. Seth Benzells work: