My Version of Race Against the Machine
By Arnold Kling
I wrote mine first, but it came out today (and at the last minute I inserted a reference to the Brynjofsson-McAfee e-book). Anyway, I write,
In a hyper-Schumpeterian economy, the main work consists of destroying someone else’s job. Garett Jones has pointed out that the typical worker today does not produce widgets but instead builds organizational capital. The problem is that building organizational capital in one company serves to depreciate the organizational capital somewhere else.
We are not stagnating, but the middle-class jobs that emerged after the second World War are disappearing. Read the whole essay, and let me know what you think.