Abstract

This chapter summarizes (1) data on the adoption of industrial robots over time and in a cross section of countries, (2) the long-run evolution of per capita income, (3) long-run shifts in employment and hours worked in the United States, and (4) the evolution of income inequality and the share of aggregate income that is earned by the production factor labor versus the production factor capital. In discussing these items, we identify many stylized facts and potential explanations for them that are rooted in economic theory. This book mainly concerns those parts of income growth, changes in employment and the wage structure, and the dynamics of inequality that can be ascribed to automation. This will be the main focus in the following chapters.

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