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Not sure why you think economists treat technology as externality. I've seen many macroeconomic models that specifically are attempting to model change in techn

• ThomPete 11y ago
  Because they mostly do. Especially the economist that advice countries. And you can see it on the way they basically forecast and use various tools to stimulate the economy. You would see far more politicians propose a Unconditional Basic Income solution if technology were factored into the models regardless of whether you think UBI works or not. Problem is that technology is now moving at a pace where it will eat up most attempt to stimulate the economy whether it's Keyness philosophy or Austerity philosophy.