Liveblogging: The Anglo-Saxon Chronicle: Descendants of Cerdic to Ethelred Son of Ethelwulf Son of Egbert

Paul Krugman makes the point, which I believe is correct, that we should not be fearing robots and AI yet—that while they may, and while I think it highly likely that they will, pose society very hard problems of income distribution in the future, there is no sign that they are at work yet on any significant scale.

Our income distribution problems today are generated by our politics, and by the resulting economic mismanagement that our politics has produced:

Paul Krugman: Don’t Blame Robots for Low Wages: "Participants just assumed that robots are a big part of the problem—that machines are taking away the good jobs, or even jobs in general. For the most part this wasn’t even presented as a hypothesis, just as part of what everyone knows.... So it seems like a good idea to point out that in this case what everyone knows isn’t true.... We do have a big problem—but it has very little to do with technology, and a lot to do with politics and power.... Technological disruption... isn’t a new phenomenon. Still, is it accelerating? Not according to the data. If robots really were replacing workers en masse, we’d expect to see the amount of stuff produced by each remaining worker—labor productivity—soaring..... Technological change is an old story. What’s new is the failure of workers to share in the fruits of that technological change...


#noted

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