“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 tak...”
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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 tak...”
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“There's never been a better time to be a worker with special skills or the right education, because these people can use technology to create and capture value.”
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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...”
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“I did a lot of blue collar work. I also worked as a temp. I did, you know, light construction and cleaning. I did clerical temping. I also fix cars and motorcycles and electronics.”
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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...”
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“China's rise is really a kind of a world historical event. This is the largest country in the world. It has caused a wholesale substantial contraction of U.S. manufacturing employment.”
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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 pe...”
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“While I can't tell you what people are going to do for work 100 years from now, the future doesn't hinge on my imagination.”
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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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“History has suggested that the pessimists have been wrong time and time again.”
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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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“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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“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 benef...”
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“Here's a startling fact: in the 45 years since the introduction of the automated teller machine, those vending machines that dispense cash, the number of human bank tellers employed in the U...”
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