Answer to Question #106729 in Economics for Luna Penn

Question

According to Autor, Katz, and Kearney, do you think economists will be harmed by or benefit from future skill biased technology change? Explain.

Answer 1

According to According to Autor, Katz, and Kearney I think the economist will benefit from future skilled biased technology change because there will more demand for skilled workers since with introduction of new technology has reduced the need for common workers. This is because they are capable to perform nonroutine tasks which requires flexibility and creativity thus they are better placed to get better wages than non-skilled workers. Non-skilled workers can be easily substituted with computers hence will be rendered jobless.