Abstract
Will the revolution in digital and information technologies make us obsolete? Will jobs be lost and never replaced? Will wages drop to intolerable levels? History and economic theory and evidence suggest that in the long term, such fears are misplaced. However, in the short and medium term, dislocation can be severe for certain types of work, places, and populations. In the transition period, policies are needed that facilitate labor market flexibility and mobility, introduce and strengthen safety nets and social protection, and improve education and training.
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