Larry Summers writes about technology and job destruction
Larry Summers is warning about how technology will displace workers in the next 35 years and that the pace of pain is set to pick up.
Even the 24% number in the above chart is "likely a substantial underestimate unless something is done," he said and pegged it at 33%.
He cites the automation of everything and a likely exponential rise in technological change.
"Will we be able to support these people and a growing retired share of the population?," he writes. "What will this mean for the American family? For prevailing ethics of self-reliance? For alienation and support for toxic populism? These are vital questions. Even more vital is the question of what is to be done?"
