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" More than any other issue, economists have kind of been boosters for trade. "
David Autor
Any
Kind
Economists
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" I'm not yet convinced that we will face an unemployment problem created by AI. There will certainly be some occupations eliminated - drivers of vehicles, many production jobs, etc. Whether this creates mass unemployment depends on how quickly this happens. If it happens overnight, it will be a huge disruption. "
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" Tax reform done right will improve incentives to invest in U.S. production and to repatriate profits. "
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" Markets are, in many settings, self-organizing and 'efficient' in terms of maximizing the welfare of both buyers and sellers. "
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" Computers were programmed to swap out error-prone, inconsistent human calculation with digital perfection. "
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" We have too few college graduates. We also have too few people who are prepared for college. "
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" One would expect that a surge of new automation opportunities in highly paid work would catalyze a surge of corporate investment in computer hardware and software. Instead, the opposite occurred. "
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" The long-term policies that will be most effective all have to do with investment: investing in ourselves, investing in opportunities, creating good schools, and creating situations where people can acquire skills that enable them to be successful. "
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" Trade may raise GDP. But it does make some people worse off. "
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" I had never taken any economics. I literally didn't know what it was. I thought it was just about the study of money. "
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" Our machines increasingly do our work for us. Why doesn't this make our labor redundant and our skills obsolete? Why are there still so many jobs? "
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" The average worker in 2015 wanting to attain the average living standard in 1915 could do so by working just 17 weeks a year, one third of the time. But most people don't choose to do that. They are willing to work hard to harvest the technological bounty that is available to them. Material abundance has never eliminated perceived scarcity. "
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" I did software development for a while, and I also spent several years directing a nonprofit in San Francisco that did computer education for the poor. I also did a lot of work in fast food. "
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" The fact that a task cannot be computerized does not imply that computerization has no effect on that task. On the contrary, tasks that cannot be substituted by computerization are generally complemented by it. This point is as fundamental as it is overlooked. "
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Overlooked
Task
Fact
" If you think about it, many of the great inventions of the last 200 years were designed to replace human labor. Tractors were developed to substitute mechanical power for human physical toil. "
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Labor
Think
" Labor is getting a shrinking slice of a pie that's not growing very much. "
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Pie
Much
Labor
" The fact that people are dropping out of the labour force says one of two things: either employers have no use for them, or they have no use for the jobs that are being offered at the wages they can command. "
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" There's a reason I write articles and go out for good dinners: because I'm better at research than cooking. And there are people who are much better at cooking than research, so it's mutually beneficial for us to specialize. "
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" The last 200 years, we've had an incredible amount of automation. We have tractors that do the work that horses and people used to do on farms. We don't dig ditches by hand anymore. We don't pound tools out of wrought iron. We don't do bookkeeping with books! But this has not, in net, reduced the amount of employment. "
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" If I lose my job at a furniture factory where I've worked for decades, no amount of cheaper toys and raincoats at Wal-Mart is going to make me whole again. "
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Job
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" The U.S. tends to export high-tech goods because we have strong comparative advantage there, and we tend to import labor-intensive and less skill-intensive goods that other countries can do more cheaply. "
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" The Internet promises to open new channels for worker-firm communications. What are the consequences of this opening? "
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" There was a great sag in employment beginning in 2000. "
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" Manufacturing value chains are global. Many U.S.-made goods have foreign components. Slapping on tariffs will raise prices and slow imports, but it will make us poorer and impede growth. "
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" In 1986, the space shuttle Challenger exploded and crashed down to Earth less than two minutes after takeoff. The cause of that crash, it turned out, was an inexpensive rubber O-ring in the booster rocket that had frozen on the launchpad the night before and failed catastrophically moments after takeoff. "
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" Jobs can change a lot without there being huge changes in employment rates. "
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" A lot of the work in, say, construction or restaurants involves visual and motor flexibility. It also requires adaptability, in terms of answering questions, giving people directions, or taking orders. "
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" Economists have understood since the Victorian era that the main benefits of trade come from comparative advantage: the idea that people can specialize in what they're good at and then benefit from exchange. The principle is no more mysterious than specialization in the labor market. "
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" I think we labor economists like to think of ourselves as being closer to the people. "
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Think
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