Robots Are Us: Some Economics of Human Replacement
Seth Benzel (),
Guillermo LaGarda and
Additional contact information
Seth Benzel: Initiative on the Digital Economy, MIT
Laurence Kotlikoff: Boston University
Jeffrey Sachs: Columbia University
No WP2020-003, Boston University - Department of Economics - Working Papers Series from Boston University - Department of Economics
Will smart machines do to humans what the internal combustion engine did to horses â€“ render them obsolete? If so, can putting people out of work or, at least, good work leave them unable to buy what smart machines produce? Our modelâ€™s answer is yes. Over time and under the right conditions, todayâ€™s supply reduces tomorrowâ€™s demand, leaving everyone worse off in the long-run. Carefully crafted redistribution policies can prevent such immiserating growth. But blunt policies, such as limiting intellectual property rights or restricting labor supply, can make matters worse.
Pages: 60 pages
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed
Downloads: (external link)
Working Paper: Robots Are Us: Some Economics of Human Replacement (2015)
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:bos:wpaper:wp2020-003
Access Statistics for this paper
More papers in Boston University - Department of Economics - Working Papers Series from Boston University - Department of Economics Contact information at EDIRC.
Bibliographic data for series maintained by Program Coordinator ().