Sublime

The MIT economist David Autor has shown that instead of inequality rising across the board, there are actually two different effects: inequality rising at the top and lowering at the bottom.2 This matches Cowen’s thesis of average being over, with the middle part of the income spectrum being compressed into the bottom and stretched out at the top.

There frankly is a hell of a lot of value in the game theory and economics literature.

At the time, a fierce debate was raging about whether centrally planned economies like that of the Soviet Union—in other words, economies where there was a single core responsible for creating and distributing goods and services—worked better than free market economies where planning and production were done by an undirected, decentralized crowd.

Digital technologies change rapidly, but organizations and skills aren’t keeping pace. As a result, millions of people are being left behind.

We don’t believe in the coming obsolescence of all human workers. In fact, some human skills are more valuable than ever, even in an age of incredibly powerful and capable digital technologies. But other skills have become worthless, and people who hold the wrong ones now find that they have little to offer employers. They’re losing the race

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The point is that underlying technologies change, but, after a point, technology market shares don’t change and so they’re highly predictable.