The Great Stagnation: Why Hasn’t Recent Technology Created More Jobs? [PBS Newshour]

As part of his continuing coverage of Making Sen$e of financial news, Paul Solman reports on why more good jobs haven’t been created in recent years. Can new technological innovations create widespread job growth as past generations have seen? Tyler Cowen (George Mason / Marginal Revolution) argues “there is an innovation drought, relative to the industrial revolutions of the past and to other countries today.” Erik Brynjolfsson (MIT Solan) counters “I’m an optimist about technological progress, but I’m not nearly as optimistic about our ability to keep up with it.  We have got some real problems. I just want to make it clear that the problem is not stagnation. The problem is more serious in some ways, which is our basic human ability to keep up with technological progress. That problem is going to get worse and worse as technology speeds faster and faster.”


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