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Will automation take away all our jobs?

Will automation take away all our jobs?

Mar 29, 2017 David Autor (Ford professor of economics and associate head of the department of economics at the Massachusetts Institute of Technology)

Probably not. But if we want a future where more of those jobs are decent and well-paying, we — and our institutions — need to rise to its challenge, says economist David Autor.

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 in 1970 to a half a million today, with 100,000 added since the year 2000. These facts, revealed in Boston University economist James Bessen’s recent book Learning by Doing, raise an intriguing question: What are all those tellers doing, and why hasn’t automation eliminated their employment by now?