mechanization

According to a new International Monetary Fund research paper, the answer to the above question is yes. As one story on the IMF report put it, “The future of work run by robots appears to be a dystopian march to rising inequality, falling wages and higher unemployment.” This is just the latest in a long line of predictions that artificial intelligence and automation will soon create massive “technological unemployment.”

I get it. Doomsday predictions gain shares on Facebook and Twitter. But these apocalyptic fears defy the lessons of both history and economics.