Year: 2020
Type: book-chapter
Abstract: Technological change is likely to create a dual economy of automation-resistant and automation-susceptible sectors. Correspondingly, the labor force employed in automatable domains is pushed toward new activities—a dynamic that we liken to the classical Lewis model. We argue that the role of artificial intelligence and other advances is likely to be what we term a “robot reserve army,” providing infinite supplies of artificial labor particularly in the agricultural and manufacturing sector. From this emerges a new pattern of structural transformation, as outlined in the previous chapter, with new distributional implications. We argue that tertiarization, income inequality, and wage stagnation, rather than, technological unemployment, are the key challenges of late development in the age of automation.
Source: Springer eBooks
Authors: Lukas Schlogl, Andy Sumner
Institutions: University of Vienna, King's College London
Language: English
Topic: Economic Theory and Policy
Domain: Social Sciences
Open Access status: hybrid
OpenAlex ID: W3000692086