Arbeitspapier
The lost race against the machine: Automation, education and inequality in an R&D-based growth model
We analyze the effect of automation on economic growth and inequality in an R&D-based growth model with two types of labor: highskilled labor that is complementary to machines and low-skilled labor that is a substitute for machines. The model predicts that innovationdriven growth leads to increasing automation, an increasing skill premium, an increasing population share of graduates, increasing income and wealth inequality, a declining labor share, and (in an extension of the basic model) increasing unemployment. In contrast to Piketty's famous claim that faster economic growth reduces inequality, our theory predicts that faster economic growth promotes inequality.
- Sprache
-
Englisch
- Erschienen in
-
Series: Hohenheim Discussion Papers in Business, Economics and Social Sciences ; No. 08-2017
Klassifikation
Wirtschaft
Macroeconomics: Production
Aggregate Factor Income Distribution
Innovation and Invention: Processes and Incentives
Technological Change: Choices and Consequences; Diffusion Processes
Economic Growth and Aggregate Productivity: General
Macroeconomics: Production
Aggregate Factor Income Distribution
Innovation and Invention: Processes and Incentives
Technological Change: Choices and Consequences; Diffusion Processes
Economic Growth and Aggregate Productivity: General
Thema
Automation
R&D-Based Growth
Inequality
Wealth Concentration
R&D-Based Growth
Inequality
Wealth Concentration
Ereignis
Geistige Schöpfung
(wer)
Prettner, Klaus
Strulik, Holger
Strulik, Holger
Ereignis
Veröffentlichung
(wer)
Universität Hohenheim, Fakultät Wirtschafts- und Sozialwissenschaften
(wo)
Stuttgart
(wann)
2017
- Handle
- URN
-
urn:nbn:de:bsz:100-opus-13398
- Letzte Aktualisierung
-
20.09.2024, 08:21 MESZ
Objekttyp
- Arbeitspapier
Beteiligte
- Prettner, Klaus
- Strulik, Holger
- Universität Hohenheim, Fakultät Wirtschafts- und Sozialwissenschaften
Entstanden
- 2017
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