The question of whether new technology is a threat or an opportunity never goes away, because it can never definitively be answered. Despite contemporary fears, past new technologies have resulted in more – albeit often different – jobs, rather than fewer, so why should this time be different? One answer might be that past changes have left ‘cybernetic control’ of work firmly in the human sphere, and that current and prospective challenges are shrinking that area of advantage. The era of peak horse labour passed a century ago – for a long time they were irreplaceable, despite changes in some of the surrounding technology, until suddenly they weren’t. Are we approaching a similar position for peak human labour?
Brad de Long – Washington Center for Equitable Growth