January 24, 2012
In Race Against the Machine, Erik Brynjolfsson and I highlight that median household income in America has actually declined in recent years, even as total US GDP has risen a great deal. Our explanation for this phenomenon is that the average worker is being left behind in our economy, due to technology, trade, and other [...]
Read the full article →
January 17, 2012
When I’m trying to understand something, I start drawing graphs using whatever data’s available; pictures help me more than tables of numbers or regression coefficients. So here’s a picture I drew to see recent trends in US labor productivity — how much more output the American economy gets from its workers over time. Instead of [...]
Read the full article →