Average is Over: Powering America Beyond the Age of the Great Stagnation
| Author | : | |
| Rating | : | 4.56 (631 Votes) |
| Asin | : | B00FKTDR2Y |
| Format Type | : | |
| Number of Pages | : | 176 Pages |
| Publish Date | : | 2013-05-22 |
| Language | : | English |
DESCRIPTION:
About three quarters of the jobs created in the United States since the great recession pay only a bit more than minimum wage. The widening gap between rich and poor means dealing with one big, uncomfortable truth: If you're not at the top, you're at the bottom. A steady, secure life somewhere in the middle is over. Nearly every business sector relies less and less on manual labor, and this fact is forever changing the world of work and wages. It is a challenging and sober must-listen - but ultimately exciting and good news. Still, the United States has more millionaires and billionaires than any country ever, and we continue to mint them. The global labor market is changing radically thanks to growth at the high end and the low. With The Great Stagnation, Cowen explained why median wages stagnated over the last four decades; in Average is Over he reveals the essential nature of the new economy, identifies the best path forward for worke
The Middle Class is Dead - An Economist Predicts the Future Tyler Cowen writes the terrific Marginal Revolution blog [], teaches economics at GMU, and in his spare time writes books. In "Average is Over" Cowen examines the trends of the last 30 years including the introduction of smart technology, polarization of high and low wage earners, outsourcing of manufacturing jobs, wage stagnation. Cowen uses the prizm of chess, chess software, and chess software games as both analogy and predictor for future of how technolog. "danger in front of us" according to Mikio Miyaki. Thomas Pikkety claims the gap between the poor and the rich widens further in his best known work of “Capital in the 21st Century.” Tyler Cowen sheds light on this issue from a different angle. In “Average Is Over” he asserts, due to advance of intelligent machines, mid-skilled labor forces are more and more relegated to a lower post and their wages become increasingly cheaper and cheaper. What await them are only gloomy future.I read . Average is indeed average. Although the book has an interesting premise -- that the future will reward those who can interact with technology with earnings that far outpace those who can't -- its a one-trick pony. He paints a bleak picture for the 80-90% of the world's population who continue to fall behind the productivity curve bought on by ever-continuing advances in technology.While Cowen makes a good case for how humans will use the exponentially increasing computing power in the