Phrase by 'David Autor'
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The last 200 years, we've had an incredible amount of automation. We have tractors that do the work that horses and people used to do on farms. We don't dig ditches by hand anymore. We don't pound tools out of wrought iron. We don't do bookkeeping with books! But this has not, in net, reduced the amount of employment.
Author: David Autor - American EconomistPeople , Work , Tools , Automation
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 benefit from exchange. The principle is no more mysterious than specialization in the labor market.
Author: David Autor - American EconomistMore , People , Good , Mysterious
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 people can acquire skills that enable them to be successful.
Author: David Autor - American EconomistPeople , Will , Good , Investment
Work is really wrapped up with identity. Work is not just money for most people.
Author: David Autor - American EconomistPeople , Work , Money , Identity
I'm not yet convinced that we will face an unemployment problem created by AI. There will certainly be some occupations eliminated - drivers of vehicles, many production jobs, etc. Whether this creates mass unemployment depends on how quickly this happens. If it happens overnight, it will be a huge disruption.
Author: David Autor - American EconomistFace , Problem , Unemployment , AI
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 booster rocket that had frozen on the launchpad the night before and failed catastrophically moments after takeoff.
Author: David Autor - American EconomistSpace , Down , Night , Moments
There's a reason I write articles and go out for good dinners: because I'm better at research than cooking. And there are people who are much better at cooking than research, so it's mutually beneficial for us to specialize.
Author: David Autor - American EconomistPeople , Good , Research , Cooking
The U.S. tends to export high-tech goods because we have strong comparative advantage there, and we tend to import labor-intensive and less skill-intensive goods that other countries can do more cheaply.
Author: David Autor - American EconomistMore , Because , Strong , Export
People tend to think about trade as if it's competition between companies - if Apple wins, Google loses. But that's false. Trade makes nations better off in general. Now, I want to be clear. I'm not saying that everything about trade is good and beneficial. Trade also has costs.
Author: David Autor - American EconomistPeople , Better , Good , Competition
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 United States has roughly doubled, from about a quarter of a million to a half a million.
Author: David Autor - American EconomistHalf , Human , Bank , Introduction
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