Blog Archives

Beyond jobs

Does capitalism, with its accompanying technological disruptions, create more jobs than it destroys? Conventional wisdom says unequivocally “yes.” Each new wave of innovation eventually brings new jobs in number and value far greater than those it displaces. Telegraph readers become

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Posted in Economics, Uncategorized

Growth of negative-yield bonds

All over the world now you can enjoy the privilege of buying government debt that pays you a negative yield. In effect, you are paying a small premium to the issuing government for the privilege of carrying their debt. This

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Posted in Economics

Peaches, chips and immigration

Two stories caught my eye this week for their potential impact on labor markets, immigration policy and wider issues. The first involves a new computer chip being introduced by IBM based on the neural architecture of the human brain. From

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Posted in Economics, Immigration, The Second Machine Age

Your automated dinner

The list of jobs which cannot be automated continues to shrink, largely to the benefit of consumers. Milking machines have been reducing dairy costs for almost a century, but robotic technology is now being deployed to replace the dairy farmer.

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Posted in Uncategorized

Meet your automated replacement

It would wise to revisit our assumptions about what computers can and cannot do. Many of us were surprised at the development of computers that could defeat a human at Chess or on the game-show Jeopardy! While those achievements were

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Posted in Economics, The Second Machine Age, Uncategorized, Welfare State
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