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Well, I think it is clear that increased productivity due to improvements in information technology has resulted in slower job growth during this recovery compa
by recampbell 16y ago
Well, I think it is clear that increased productivity due to improvements in information technology has resulted in slower job growth during this recovery compared with past ones. Corporations have been able to achieve top line growth with minimal hiring.
But there are other factors at play. Too much of the US labor force was dedicated to housing, and those people are going to take a long time to either retrain or find new work with their existing skills. They are not being replaced by software (yet).
However, I essentially agree with the article. Software and robots will make it easier for corporations to grow profits with out hiring people, and that this increases the threat of income inequality.