Top of Mind

The Impact of Automation

Automation is poised to deliver a deep economic disruption lasting decades and taking millions of jobs, according to a recent batch of studies. Axios offers this historical context. “It took about six decades for U.S. wages to recover after the first industrial age automation of the 1810s. And the agriculture-to-industrial shift of the 20th century lasted four decades.” While the economy will eventually rebalance and create new jobs, they may not be good ones: “Wages for most jobs may be too low to sustain a middle-class lifestyle.”