Category Archives: The destruction of the middle class

How Brexit Threatens to Turn the UK Into “Borisland”

How the Tories and UKIP intend to use Brexit to impose permanent austerity and reduce workers’ rights.

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IMF Warns That Inequality, Poverty, Low Productivity Growth, Falling Workforce Participation Will Drag on US Growth

The IMF has become an unlikely reporter of unpleasant realities about the US economy, particularly the costs of inequality and distress. If only its prescriptions were better….

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Unequal Gains: American Growth and Inequality Since 1700

American history suggests that inequality is not driven by some fundamental law of capitalist development, but rather by episodic shifts in five basic forces: demography, education policy, trade competition, financial regulation policy, and labour-saving technological change.

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Artificial Intelligence and Employment

The substitution of human labour by artificial intelligence and robots is a keenly debated topic. Some claim that a substantial share of jobs is at risk, while others argue that computers and robots will lead to product innovations and hence to unimaginable new occupations. This column uses a survey of Japanese firms to examine the impact of AI-related technologies on business and employment. Overall, firms expect a positive impact on business but a negative impact on employment. Firms with a highly skilled workforce, however, have a more optimistic view than firms with lower skilled employees.

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