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Kenneth Rogoff
Filter: Category: Technology > Innovation
  • ECONOMICS, Employment/unemployment, Technology, Innovation

    Neil Irwin, "If the Robots Come for Our Jobs, What Should the Government Do?"

    The New York Times - paywall - 12 Jun 2018

    We don’t know yet whether artificial intelligence, robotics and other technologies will make a large portion of today’s jobs obsolete, but they might! If they do, this will become the defining challenge of the decades ahead, demanding political attention. Some bold ideas, like a universal basic income, have gained traction in particular ideological circles. However, many less dramatic solutions might work too. This article reviews some of them, like work-sharing programs (reads in 6-8 min).

    Published in Weekly selection 15 June 2018

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  • SOCIETY, Globalization, Technology, Innovation

    Richard Baldwin, "Globalization at a ‘Holy Cow’ moment"

    Graduate Institute of Geneva - 28 May 2018

    This is a very short piece presented in an unusual format. It makes a fundamental point with far-reaching consequences for decision-makers of all kinds: we are at a juncture (which the economist calls a “Holy Cow moment”) where we tend to under-estimate the impact of technology as well as its speed and how quickly the nature of globalization will change as a result (reads in 2-3 min).

    Published in Weekly selection 1 June 2018

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  • ECONOMICS, Technology, Innovation

    Ajay Agrawal, "The economics of artificial intelligence"

    McKinsey Quarterly - 1 May 2018

    This is a great read to understand in simple terms what the economics of AI is all about, and what it does to business. In a nutshell: AI serves a single, but transformative, economic purpose: it significantly lowers the cost of prediction. As the price of prediction drops, the value of its substitutes will go down and the value of its complements will go up. Hence the value of human prediction (a “substitute” beset by many cognitive biases) will fall, but the value of data and, most importantly, human judgment and action will increase (reads in 7-8 min). 

    Published in Weekly selection 26 May 2018

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