Link to Critical Powers blog

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Automation is stealing jobs.

The bottom line of Autor and Salomon’s paper is being distorted in this summary. Automation is labor-displacing. The effects are recent, and if you rely on old data from before 2000, there is some labor growth; but this is increasingly out of date and wrong: here’s their bottom line:

“ Our estimates indicate that the labor share-displacing effects of productivity growth, which were essentially absent in the 1970s, have become more pronounced over time, and are most substantial in the 2000s. This finding is consistent with automation having become in recent decades less labor-augmenting and more labor-displacing.”

How can this clear statement be overlooked, ignored, and mis-interpreted?!

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