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All Quotes by author - David Autor
" A lot of the work in, say, construction or restaurants involves visual and motor flexibility. It also requires adaptability, in terms of answering questions, giving people directions, or taking orders. "
Giving
People
Say
" China's rise is really a kind of a world historical event. This is the largest country in the world. It has caused a wholesale substantial contraction of U.S. manufacturing employment. "
Rise
Country
World
" Computers were programmed to swap out error-prone, inconsistent human calculation with digital perfection. "
Human
Perfection
Computers
" Economists have understood since the Victorian era that the main benefits of trade come from comparative advantage: the idea that people can specialize in what they're good at and then benefit from exchange. The principle is no more mysterious than specialization in the labor market. "
Mysterious
People
Trade
" Here's a startling fact: in the 45 years since the introduction of the automated teller machine, those vending machines that dispense cash, the number of human bank tellers employed in the United States has roughly doubled, from about a quarter of a million to a half a million. "
Cash
Introduction
Here
" History has suggested that the pessimists have been wrong time and time again. "
Time
Wrong
Again
" I did a lot of blue collar work. I also worked as a temp. I did, you know, light construction and cleaning. I did clerical temping. I also fix cars and motorcycles and electronics. "
Construction
Blue
Work
" I did software development for a while, and I also spent several years directing a nonprofit in San Francisco that did computer education for the poor. I also did a lot of work in fast food. "
Food
Education
Work
" If I lose my job at a furniture factory where I've worked for decades, no amount of cheaper toys and raincoats at Wal-Mart is going to make me whole again. "
Job
Lose
Going
" If you think about it, many of the great inventions of the last 200 years were designed to replace human labor. Tractors were developed to substitute mechanical power for human physical toil. "
Power
Labor
Think
" I had never taken any economics. I literally didn't know what it was. I thought it was just about the study of money. "
Study
Money
Thought
" I'm a professor of economics and associate head of the MIT Department of Economics. "
Professor
MIT
Economics
" I'm not yet convinced that we will face an unemployment problem created by AI. There will certainly be some occupations eliminated - drivers of vehicles, many production jobs, etc. Whether this creates mass unemployment depends on how quickly this happens. If it happens overnight, it will be a huge disruption. "
Some
Will
Face
" In 1986, the space shuttle Challenger exploded and crashed down to Earth less than two minutes after takeoff. The cause of that crash, it turned out, was an inexpensive rubber O-ring in the booster rocket that had frozen on the launchpad the night before and failed catastrophically moments after takeoff. "
Moments
Night
Earth
" I think we labor economists like to think of ourselves as being closer to the people. "
People
Think
Economists
" I work a lot on skill demands and changes in labor markets having to do with technology and with trade as well. "
Technology
Work
Skill
" Jobs can change a lot without there being huge changes in employment rates. "
Changes
Without
Employment
" Labor is getting a shrinking slice of a pie that's not growing very much. "
Pie
Much
Labor
" Manufacturing value chains are global. Many U.S.-made goods have foreign components. Slapping on tariffs will raise prices and slow imports, but it will make us poorer and impede growth. "
Value
Will
Growth
" Markets are, in many settings, self-organizing and 'efficient' in terms of maximizing the welfare of both buyers and sellers. "
Settings
Efficient
Markets
" More than any other issue, economists have kind of been boosters for trade. "
Any
Kind
Economists
" One would expect that a surge of new automation opportunities in highly paid work would catalyze a surge of corporate investment in computer hardware and software. Instead, the opposite occurred. "
Work
New
Opportunities
" Our machines increasingly do our work for us. Why doesn't this make our labor redundant and our skills obsolete? Why are there still so many jobs? "
Us
Work
Why
" People tend to think about trade as if it's competition between companies - if Apple wins, Google loses. But that's false. Trade makes nations better off in general. Now, I want to be clear. I'm not saying that everything about trade is good and beneficial. Trade also has costs. "
Competition
Good
People
" Tax reform done right will improve incentives to invest in U.S. production and to repatriate profits. "
Done
Invest
Right
" The average worker in 2015 wanting to attain the average living standard in 1915 could do so by working just 17 weeks a year, one third of the time. But most people don't choose to do that. They are willing to work hard to harvest the technological bounty that is available to them. Material abundance has never eliminated perceived scarcity. "
Work
Harvest
People
" The end of the 'tech bubble' in the year 2000 is, of course, widely recognized, as the NASDAQ stock index erased three-quarters of its value between 2000 and 2003. "
Year
Recognized
End
" The fact that a task cannot be computerized does not imply that computerization has no effect on that task. On the contrary, tasks that cannot be substituted by computerization are generally complemented by it. This point is as fundamental as it is overlooked. "
Overlooked
Task
Fact
" The fact that people are dropping out of the labour force says one of two things: either employers have no use for them, or they have no use for the jobs that are being offered at the wages they can command. "
Fact
Wages
Two
" The Internet promises to open new channels for worker-firm communications. What are the consequences of this opening? "
Internet
Consequences
Promises
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