Over the last 50 years, wage inequality has worsened, and the share of income held by the middle class has fallen. The rapid onset of automation, made possible by advances in information technology, coincided with this period of decline, making automation by computers and computerized robots an important area of study for researchers trying to understand why our middle class is facing challenges. The current rise of artificial intelligence (AI) technologies brings new relevance to this research. Now is the time to take a closer look at how technological advancement can change the skills we demand from our workforce, and how these changes have previously held back midwage workers.
This article appeared in the Fourth Quarter 2024 issue of Economic Insights. Download and read the full issue.
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