Growth in the age of automation: Foundations of a theoretical framework
Orlando Gomes ()
Metroeconomica, 2019, vol. 70, issue 1, 77-97
The replacement of humans by machines in the development of a wide array of productive tasks is changing the economic landscape. Mutations on the structure of employment, widening income gaps, and uncertain effects over growth are some of the worries currently in the mind of economists. This article develops the foundations of a neoclassical growth model that puts into perspective the impact of automation over the aggregate economy. In particular, efficiency gains propelled by the current wave of innovation are confronted with the associated loss of jobs and with the potential social unrest and anxiety that the substitution of labor by robots brings. The strength of each effect determines transition paths and steady‐state results.
References: Add references at CitEc
Citations: View citations in EconPapers (1) Track citations by RSS feed
Downloads: (external link)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:bla:metroe:v:70:y:2019:i:1:p:77-97
Ordering information: This journal article can be ordered from
http://www.blackwell ... bs.asp?ref=0026-1386
Access Statistics for this article
Metroeconomica is currently edited by Heinz D. Kurz and Neri Salvadori
More articles in Metroeconomica from Wiley Blackwell
Bibliographic data for series maintained by Wiley Content Delivery ().